All Forum Posts by: Ryan Taylor
Ryan Taylor has started 22 posts and replied 88 times.
Post: DSCR Loans and seasoning
- Posts 88
- Votes 38
Quote from @Khemraj Sarju Jr.:
Quote from @Ryan Taylor:
Quote from @Khemraj Sarju Jr.:
Quote from @Ryan Taylor:
When it comes to a DSCR loan...does the down payment percentage have to be seasoned funds?
We assist client nationwide with out having to season the funds and in refi situations, only 30 day seasoning for property ownership.
so if I am reading this correctly...acquire property through DSCR financing say 65%LTV...refi 30 days at 80%LTV on a conventional cash out to recover some of the down...or all of the down depending on appraisal...
That is correct. With great credit you can even get in with little as 20-25% down and rates in the low 7s.
Awesome!!
Great to know 🤙
Post: DSCR Loans and seasoning
- Posts 88
- Votes 38
Quote from @Robin Simon:
Quote from @Ryan Taylor:
Quote from @Robin Simon:
Quote from @Ryan Taylor:
When it comes to a DSCR loan...does the down payment percentage have to be seasoned funds?
Will vary from lender to lender but generally not required. Will likely have to source any significant funds that came into the account within a couple of months to satisfy AML and Straw
Thank you for that...kind of what I was thinking...but was not 100% on it...and forgive my ignorance...but a "Straw Borrower"...what is that exactly...
"Straw Borrower" would be using someone with a good credit score for example to be the borrower on the loan, such as a guy with 600 credit using his sisters 750 credit to qualify and faux-own the property while he is the real owner and operator of the property. So in this case, a fraud would be for him to send the money to his sister to put the down payment on the loan and qualify, and then once the loan is done, she transfers back the property
Got it...learned something new today...never under estimate the creative mind...lol..thank you for that
Post: DSCR Loans and seasoning
- Posts 88
- Votes 38
Quote from @John O'Leary:
No, but the lender may require a Letter of Explanation if there was a large deposit. Gifted funds are ok.
Good information to know...thank you for that...so an LOE would suffice most large deposits or just Gifted funds...and do the gift funds need to come from a relative ...
Post: DSCR Loans and seasoning
- Posts 88
- Votes 38
Quote from @Khemraj Sarju Jr.:
Quote from @Ryan Taylor:
When it comes to a DSCR loan...does the down payment percentage have to be seasoned funds?
We assist client nationwide with out having to season the funds and in refi situations, only 30 day seasoning for property ownership.
so if I am reading this correctly...acquire property through DSCR financing say 65%LTV...refi 30 days at 80%LTV on a conventional cash out to recover some of the down...or all of the down depending on appraisal...
Post: DSCR Loans and seasoning
- Posts 88
- Votes 38
Quote from @Robin Simon:
Quote from @Ryan Taylor:
When it comes to a DSCR loan...does the down payment percentage have to be seasoned funds?
Will vary from lender to lender but generally not required. Will likely have to source any significant funds that came into the account within a couple of months to satisfy AML and Straw
Thank you for that...kind of what I was thinking...but was not 100% on it...and forgive my ignorance...but a "Straw Borrower"...what is that exactly...
Post: DSCR Loans and seasoning
- Posts 88
- Votes 38
When it comes to a DSCR loan...does the down payment percentage have to be seasoned funds?
Post: I just have to give a shout out
- Posts 88
- Votes 38
Just got (3 days ago) "Real Estate By The Numbers" by J Scott and Dave Meyer...half way through it...I'm not a "math guy" per say but...this book does an excellent job of explaining things...shout out to both authors @Dave Meyer and J scott...well done...BTW...probably read it twice...just so I'm certain to get it 😁
Post: Many questions...answers you have?
- Posts 88
- Votes 38
@Justin Moy...Thank you for your input Sir...valuable indeed. I too agree that an Operator should be compensated for bringing a deal to investors...as long as the percentage is within reason, a track record of syndication success has been obtained, the deal can support and justify said acquisition, etc, etc...
Again...thank you for your feedback 🤙🤙
Post: Many questions...answers you have?
- Posts 88
- Votes 38
@Brian Adams...Thank you Sir for your input...That is precisely the answer to number 6 I was looking to see...how I can add value to a space I am a rookie in...thank you for telling me how I can add value to you...now that I know that...I will surely be on the hunt!
I see what you did there...👏👏👏👏...bravo
Post: Many questions...answers you have?
- Posts 88
- Votes 38
@Greg Scott...Thank you Sir for you input...I find it most valuable. As for your answer to number 6...I was saying surrender your portion of the acquisition/ other fees to the other partners for their mentorship...or perhaps add value in another way, ie. find the deal, be the boots on the ground, raise capital...I guess what I'm saying is value can be added other ways...but I'm sure you are aware of this given your accomplishments...thank you to adding value to me with your answers 🤙🤙