All Forum Posts by: Trever Nicoll

Just to clarify, the builder owns the entire community, and they have set what their floorplans are and what modifications can and cannot be made. We knew going into it that an oven would not be installed. If I was building on my own lot, then you're right I would dictate that.

We are just trying to figure out if we go in and immediately spend the money to retrofit and have an oven installed or if we try having a counter oven. Of course we would love to not retrofit, but wanting to hear if other people have had success without a built in oven.

Thanks!

Thanks @Aaron K. The builder isn't letting us install one at all. Originally we were going to go in and install one upon construction completion. Now we are thinking to try and rent it out without an oven or cooktop before spending that money. Just wanted to see if others have rentals in this same boat and what kind of success they have had with it?

My wife and I are building a semi-custom home with an attached 1 bedroom unit (house hacking). The builder is not allowing us to install an oven/stove. We would like to use it as a long-term rental.

Are there tenants that would be completely fine with just a microwave and maybe a plugin cooktop?

What are your thoughts on renting it out without an oven/stove? 

Do any of you have creative ideas on how to approach this?

Thanks!

Thank you @Zach Quick!

Hi All,

I am working on pulling together a self-storage syndication project and was wondering if I can get an SBA Loan as part of the syndication project? I know I can get an SBA Loan for a self-storage project if it's a small partnership or individual, but does it make a difference if it's for a syndicated deal? Any input would be greatly appreciated.

Thanks,

Trever

Thank you @Heath M. I will reach out to those Banks, and let you all know what I find out. 

@Chad Lamb Thanks for sharing that information, very helpful. I do have a lender lined up that will do 80% LTV with a 30 year am. Talking to a couple lenders they said 2 months ago they could have done 85%, but with liquidity issues in todays market they are tied in at 80%.

@Charles Jabaley - I will reach out to those banks. Thanks for the input!

Hi all,

I am looking to purchase 8-12 units in the Chattanooga area comprised of 2-3 fourplexes. I have worked with a lender in another state who will do 85% LTV with no PMI on non-owner occupied MF 2-4 units and am looking for the same type of lender in Tennessee.

Or,

Would a commercial / blanket loan be a good option here as well? I'm not as experienced with this type of loan.

Does anyone have recommendations or connections/references for a good lender that will go to 85% LTV? Any input would be much appreciated.