All Forum Posts by: Scott Wolf
Scott Wolf has started 43 posts and replied 1797 times.
Post: 🏝️ Florida Lending Tightening Up — What Are You All Seeing?
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Quote from @Katie Smith:
Over the past few weeks, I’ve had a noticeable uptick in conversations with investors who’ve had their lenders suddenly pull out of Florida — sometimes right in the middle of a deal. Some are seeing stricter guidelines, others are getting no quotes at all. It’s definitely creating some friction, especially for folks trying to move quickly in a competitive market.
That said, I’m still seeing deals getting done. There’s capital out there - but it’s taking a bit more strategy, stronger structuring, and knowing which lenders are still active and comfortable in Florida.
Are you running into similar issues with lenders backing out or changing terms last minute? Have you found any new strategies or workarounds that are keeping your deals alive?
Would love to hear how others are adjusting — and if you’re stuck on something or just want to talk through options, feel free to reach out. Always happy to connect with other folks working in the Florida space.
We're still going strong as a FL based Direct Lender.
Post: Hard Money Investors
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Quote from @William Matthew Cowgill:
I’m trying to find a hard money investor, I’m found a couple properties that I would like to buy and maybe a small apartment complex. What are some thing I should watch out for in hard money lender and what are some pros I should look out for? Thank your for the advise!!!!!
Will, what's your strategy? This post doesn't give enough detail. Are you looking to hold them long term, do they need rehab? Strategy can help determine financing.
Post: Off Market Miami STR for Sale
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Hey Colton,
Shoot me some information please. Email is below.
Post: Lender Instructions for Private Party Loan
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Quote from @Account Closed:
Sorry if this isn't the right forum...
Title/Escrow is asking us to provide the interest rate or note and lender instructions for current deal. We utilize a private individual for loans. We've done two projects and have never had to provide this to escrow. They will simply draft a deed of trust.
The interest rate or note -- no big deal as we have that. But, not sure why they need it for deed of trust preparation.
Secondly, not sure what to do about lender instructions. Does anyone have a template handy for a private loan? What are the main elements we should include?
Thanks!
Title may have a standard form they use. I'd ask them first.
Post: Seeking lender for short term stabilised bridge min. 80% LTV
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Quote from @Magnus Wikström:
Hi BP community,
We're foreigners (Swedish), building SFR in SWFL in the affordable segment. We're now seeking a short term stabilised bridge loan for 1, potentially 2 properties valued at $310.000 each. We're strong in liquidity and have a few more projects where we could possibly do the same thing in a few months. Please note min. 80% LTV, no ridiculously high origination and No brokers please.
Thanks
Do you have visas? If so, what type?
Post: Looking for Lenders & Real Estate Agents: NM, NV, CO
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Quote from @Christine Perez:
Does anyone have recommendations for excellent lenders and real estate agents in NV, NM and CO who specialize in residential investment property?
Hi Christine, this is exactly what we do. Minus NV.
Post: DSCR rates are LOW! Time to refi?
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
I'm seeing clients with equity doing a cashout and buying down into the 5's. That being said, historically the average mortgage rate in the USA is 7.71% so we're well below that right now.
In the end, the adage of "time in the market beats timing the market" usually holds true. If it's a good asset, it will continue to perform.
Post: Why rural properties are so much harder to finance
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Great post. I think one thing that your post overlooked is the worst-case scenario. Lenders are in the business of lending, not owning real estate, so if an owner defaults, they look at the ability to resell the property, which is often tougher in rural markets. This is often a reason for the lower leverage, if they need to sell, they want to have that buffer in order to be able to get if off their books quickly.
Post: Lowest Rate W/ Points OR Higher Rate No Points?
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Quote from @Tyrell Proby:
When financing your flips, do you focus more on getting the lowest interest rate or avoiding upfront points?
I recently spoke with an investor who takes a 6-month loan at 16% interest with no points because he consistently flips in 3 months or less. Even though the rate is higher, he avoids the 2 points ($4,000 on a $200K loan) that come with lower-rate loans.
By closing out the loan early, he only pays $8,000 in interest versus a lower-rate loan at 10% with 2 points, which would cost him $9,000 total ($5,000 interest + $4,000 points). For those who turn projects fast, does a higher rate with no points make more sense for your deals? Or do you still go for the lowest rate possible?
Let me know what you think.
Echoing the prior answers, if you run into issues, what does the extension look like? Would you pay higher interest if you only need to pay when the project sells/refis? Lots of variables, dependent on project and experience.
Post: 4 Resi Portfolio: Loan Mgmt & Refi - Seeking Your Wisdom!
- Lender
- Boca Raton, FL
- Posts 1,917
- Votes 933
Hi Ron, one way to streamline is by getting a portfolio loan. This will combine all your payments int one.
Make sure you run your numbers and that it fits your business model. If you want to keep growing and pull out equity, then that should be the focus. If you want to maximize cash flow, focus on that and maybe don't pull cash out.