All Forum Posts by: Simmy Ahluwalia

@Ryan James - are you still looking for sources of capital? What if I can get you 100% on the purchase/rehab up to 70% of ARV? Roll in origination and cc, potentially?

@Kenneth Bentley - yes, we offer NR loans.  However, I think your down-payment is a little high.  Let's discuss. Reach out.

If you are an Investor seeking new construction single family rentals to invest in, please reach out.  

We are based in the ATL.  DM me and I'll give you a recommendation.

Yes, this is doable with us.  Is your plan to replace the 1 vacancy and fill the 2 empty pads?  Once stabilized, we can look at a 30 year, fully amortizing loan.  

@Keith Miller - sounds like a great project with huge upside.  Have you already locked in the acquisition/horizontal/vertical financing piece?

Exactly!  No offense, but your lack of experience is showing.  No builder can complete (unless it's modular) a home in 2-3 months....6-8 months best case scenario.

@Courtney Mercier - congrats with the STR. What's is the location? You're in a good position. You can easily qualify for a dscr (no tax return, no dti, no proof of income) loan, cash-out, use that equity for down-payment on other STR's.

With these loans, we really underwrite the rental performance of the asset vs. the borrower, although credit does play a big factor, along with experience. 

Reach out if you want to discuss further.

@Jaime Powell - hey, we are based in the ATL, and I've closed several loans (fix/flip, rental, STR) in the Augusta market.

So, you are correct, 9 times out of 10, a client is going to need 20% cash down on a 5+ asset plus fees, closing costs, etc...

If you can get the seller to take a 2nd position for let's say 40%, then we would come in 1st at 50%, the seller at 40%, and your buyer at 10%.  Lots more to this, but this is a potential structure.

On the surface, this is a pretty easy loan to execute.  If you decide you are open to co-brokering, then reach out.