All Forum Posts by: Scott Wolf

 Thank you! Appreciate this perspective! 

Hi, I'm looking to refinance my Canton, OH (44714) BRRR property. Assumptions I provided to a mortgage broker is below. Below that was her response to a 30 yr fixed rate DSCR rates, plus origination and underwriting fees.

I would appreciate this community's thoughts on these rates, origination and underwriting fees. Thank you!

Assumptions:

Credit 720

Single Family Investment Property

Property Value: $120k

Amount financed: $90k or 75% LTV

NO Pre-Payment Penalty (not allowed in Ohio)

DSCR Ratio 1.25+

30 YR Fixed Rate DSCR:

• 8.250% with $2475 in discount points. P&I payment: $660
• 8.125% with $2148 in points. P&I payment: $668
• 8.25% with $1800 in points. P&I payment: $676
• 8.375% with $1462 in points. P&I payment: $684
• 8.875% with $0 points. P&I payment: $716

Origination Fee: $4500

Underwriting fee: $1395

Naples, FL and surrounding area. I have a lot in Bonita Springs, FL that is ready to build that I need lending on. $177K land (refi), and about $589K for build. Finished value will be about $1,200,000. Looking for lower $ down as land is worth double now (around $300K). My company is Red Key Services LLC if you want to look me up. :)

Hi BiggerPockets fam, I'll keep this post pretty simple.  I'm looking to do a blanket refinance of my current rental portfolio of 6 units (8 doors total) to access equity.  Any reputable recommendations from you guys? Thanks in advance, and as always, happy investing!

I'm purchasing a home in a suburb of Cleveland with Hard Money.  My original intention was to flip the property and use the proceeds to help purchase a small multi-family home but am now considering holding the Single Family property as a rental.  

The Hardmoney lender will need ballooned out at 91k in 12 months.  I will not be able to do a cashout refi with a conventional lender for 12 months, and although Fannie and Freddie require a 12 month seasoning period for cashout refi's, it seems most convetional lenders, even in a straight out refinance (with no cash out) require 12 months as a policy.

Does anyone have any recommendations for long term lenders that will balloon me out on a long term loan?

ARV for the property will be about 150k - possibly 170k if converted to a 3 bedroom which is an option I'm exploring.

As they say, Thanks in advance.

Hi everyone,

I'm in the market to buy a quadriplex in the Kansas City area, priced at $450,000. I already have a primary residence and another quadriplex, so this would be my second rental property. I have an excellent credit score of over 800 and am looking for advice on what mortgage rates I should expect for a 25-year or 30-year loan.

Additionally, I'd appreciate any insights on the benefits of opting for a commercial loan versus a personal loan for this type of property.

Thanks in advance for your help!

I have an opportunity to buy a group of 4 or 5 properties and wondering if there are any lenders out there that still do blanket mortgages where I could get one loan for these group of 4 or 5 homes vs. getting an individual mortgage on each property?

I'm trying to buy SFH with DSCR 30yr fixed, but loan amount will be $75k-$85k less than $100k in Memphis, TN. I contacted cpuple lenders thst I worked before, but their minimum loan amount $100k. Please contact me if you can do $75k-$85k loan.

Hello everyone,

I'm seeking experienced investors to help fund two new construction projects. The first is a 3-unit building with $183k already invested, requiring an additional $150k to complete. The total project cost is approximately $350k, and I'm offering a 5% return on your investment. The second project is a 6-unit building that will need approximately $800k in funding to complete, the return can be later discussed. Both projects present promising opportunities for solid returns.