All Forum Posts by: Scott Anderson

Make sure you look into crime. Ive been shocked at some areas with high violent crime stats. 

I’m interested in these markets too.

That’s an easy one: Zestimates are wrong. 

 The Equity is in both.  I've got a Heloc on my Primary from a few years back and about $100k in an investment property.  75% should allow $40-50k to be pulled out.

I have equity and no loan option that I can find.

Does anybody know somebody loaning in AZ for a cashout refi with no personal income needs?

I have $220k in equity and am not seeing a way to put it to use. 

I thought I could use lendingone for a refi but they aren’t loaning in az??

Hi George, there's some info above in my reply to Shiloh, Property will be in east valley of PHX, AZ. Purchase price will ideally be right at $200k and valued 10%+ more. Looking for a DSCR in excess of 1.2.

Last deal had a DSCR of 1.46, but that may be hard to duplicate right now.

Thanks,

Scott

 Hey Shiloh,

The property has not been chosen yet. Trying to secure a way to finance before I start making offers again.

Value of property will be low 200s.

Rent will be 1.25 DSCR or more.

I currently have one rental property I purchased last year that cashflows $425 before capex/maint which I do myself anyway.

Hard money is my last option to explore.

My wife will cosign, and I possibly could use my parents, but have little to no interest in doing so at this point in my life.

Thanks for any insight/help you can offer.

Hey everybody, I need financing for sfh rental property. I’ve got cash and need a dscr loan with no income needed (thanks Covid).

Anybody have a private lender or a loan guy that does these loans now?

Thanks Dave, I already text him info to call. 

Does anybody have some contacts for a good multifam fha lending? My brother is up in Washington and has only been telling me how inept his loan lady is.

He needs someone that can work with him on getting an FHA loan on a duplex. His credit score is low and I think it will jump quite a bit when his collections are paid. He needs someone that can run it through a calculator to best guess the impact on his score to get the best rate possible.

Anybody know a guy/gal?