Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Simmy Ahluwalia

Simmy Ahluwalia has started 107 posts and replied 1338 times.

Post: Financing a rehab property

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

Depends upon if you are a newbie or experienced and your credit. But generally, 70% of ARV. Your purchase and rehab should fit within this model. You'll need at least 15-20% down if you are a newbie.

Post: 75% LTV Refinance, DSCR

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

@Donovan Swain - yes, even 80% is available on purchase, if it meets the DSCR metrics and you have the credit scores. Reach out if you'd like for us to quote.

Post: How do I find Syndications?

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

@Charles Burgess - reach out.  We work with several syndication groups that are well established.

Post: 5+ Unit Apartment Financing

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

Yes, you can go DSCR or Conventional on this. Your DSCR ratio and the purchase price will dictate the terms.

Post: DSCR Investor friendly mortgage company recommendation

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

Hi.  This is what we do, and can certainly help here.  We can provide cash-out refi quotes for the free/clear properties and for 30 year fixed loans.  Contact info is below:

Post: Anyone know a private lender/loan shark

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

How much are you seeking?  Have you considered SBA?

Post: Funding for renovation on STR MTR PROPERTY OPTIONS

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

No, private banking.  Reach out to chat more.  

Post: Funding for renovation on STR MTR PROPERTY OPTIONS

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

Got it.  For just $60k-ish, you should opt for an Unsecured Line of Credit.  A lot of my investors use this for down-payment, materials, expenses, etc....it's 100% credit score and credit history based.  

Post: Funding for renovation on STR MTR PROPERTY OPTIONS

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

Hi @Jerryian Francois - what do you mean by, "conversion"? If they are tenanted properties already, then the only items you will need will be furnishings, correct? Or, do the properties need cosmetic/renovation work to make them more appealing to STR customers?

Post: Commercial Lender Rec Charlotte NC

Simmy Ahluwalia
Posted
  • Lender
  • Atlanta, GA
  • Posts 1,581
  • Votes 187

Us:)  Our website is below....