All Forum Posts by: Simmy Ahluwalia

What's the actual purchase price, rehab amount and ARV?

Yes, if you are purchasing in cash, you can Refi right away. Typically 70-75% of your total cost. DSCR has a 3-month seasoning, but you can start the process in month 2.

This program is available in MOST states with the Exception of:  AL, MS, AK, VT, WV, NY, SD, IO, NE, WY

Minimum Property Value of $170k.

More info:  [email protected]

www.SimsCommercialloans.com

85% LTV is available with at least a 710 FICO and 1.1-1.2x DSCR (not every state though).

If you are open to a 2nd position note, then consider that.  They max at $450k, rate range 11-14%, no pre-pay, and amortized over 30 years.

We are working on a new construction co-living project in Atlanta metro in a high demographic area.  The property will be 23 bath and 23 bedrooms.  Targeting an upscale 20-30 something tenant base.  Avg. rents $1,075 - 1,175 per month.  Avg room size - 220 sf 

Low end Rent per sf = $4.88

Yep, 3 months c/o refinance is available......reach out.

STR loans are available in/around Ellijay, Helen, and Cleveland, GA. Reach out.....

Just adding rent bumps DO NOT increase the value of your property. It's great for cash-flow and DSCR, but "improving/adding value" to your property will force appreciation.

We are based in Atlanta.......pls. reach out.