All Forum Posts by: Jonathan B.
Jonathan B. has started 71 posts and replied 166 times.
Post: Recommendation for Portfolio Lender ?

- Southeast
- Posts 172
- Votes 13
Originally posted by @Diana Muresan:
@Jonathan B. I hope you don’t file 2018 yet, have a banker review them to make sure you don’t deduct too much. 2/3 of my borrowers are self employed, when they have over 5 y of SEnwe just use 1 y of tax returns, we need 2 y of tax returns when less than 5y SE.
You don't need high income when you buy an investment as it comes with rental income, your income just needs to cover your existing debt, 45% max DTI.
So first you try conventional and if income is too low then you go non-agency, they are 4 programs for investor solutions such as 12 Months Bank Stm, Asset Depletion, No Ratio and DSC (debt service coverage)
What do you mean by non agency? Can you guide me towards such fin institution?
Post: Recommendation for Portfolio Lender ?

- Southeast
- Posts 172
- Votes 13
Originally posted by @Diana Muresan:
@Jonathan B. I hope you don’t file 2018 yet, have a banker review them to make sure you don’t deduct too much. 2/3 of my borrowers are self employed, when they have over 5 y of SEnwe just use 1 y of tax returns, we need 2 y of tax returns when less than 5y SE.
You don't need high income when you buy an investment as it comes with rental income, your income just needs to cover your existing debt, 45% max DTI.
So first you try conventional and if income is too low then you go non-agency, they are 4 programs for investor solutions such as 12 Months Bank Stm, Asset Depletion, No Ratio and DSC (debt service coverage)
Thanks alot! Lots of information to look into
Post: Recommendation for Portfolio Lender ?

- Southeast
- Posts 172
- Votes 13
Originally posted by @Diana Muresan:
@Jonathan B. why do think you need a portfolio loan and not a conventional or non-agency? I do portfolio, I just want to make sure that you are looking at the best scenario. What is the value and current balance and how much cash out do you need? What type of property is it? How many years have you been self employed? Have you filed 2018 yet? How many financed properties do you have?
Thanks for the insight ,
I assumed I'll need a portfolio loan as I read conventional would prove difficult without a w2,
Self employed for 2 years ,
We were mainly increasing our equity with flips to buy more rentals,
Our 2 year old family entity currently owns 2 rental sfr properties and additional 2 are closing this week,
None of them are financed, they are valued at approx 120-130k, looking to get about 75-80k out,
Credit score is about 740
Hope that paints a better picture , what do you think my best course of action would be ?
Post: Recommendation for Portfolio Lender ?

- Southeast
- Posts 172
- Votes 13
I am self employed individual, looking for recommendations for a portfolio lender out of Brevard county FL
Have also looked into Limaone and lending one but have mixed reviews as far as the experience with them so holding back for now,
Was mostly self funded until now,
I am looking into having a cash out refi on a rental ,
Any recommendations or opinions on the above? Thanks
Post: How generous am i? - Structuring a deal with private money.

- Southeast
- Posts 172
- Votes 13
Thanks guys
We agreed on 10% interest,
I will refinance and pull him out
Anyone knows what interest rates am I to expect from non-bank portfolio lending ?
Post: How generous am i? - Structuring a deal with private money.

- Southeast
- Posts 172
- Votes 13
Originally posted by @Ned Carey:
i dont think you are being to generous if he would get 11-12% return. That is less than you would pay for hard money. It is in the higher end of what I would expect for private money. Typically I would expect private oeny to be 8-12%
Thanks Ned,
This is a deal (ROI Wise) I wouldn't choose to do if I hadn't gotten a partner on
With a loan realistically I would yield about 17-18%
I am thinking of just having a simple interest only loan @ 7.5% without any equity share.
How would you structure it?
Post: How generous am i? - Structuring a deal with private money.

- Southeast
- Posts 172
- Votes 13
Hi Guys,
hoping i could get some insight about a specific deal i am looking into structuring - First time i am doing this.
i have a deal under-contract:
100K PP + 15K renovations
ARV: 160-165K
Rent: 1300-1350
I have an acquaintance who is interested in partnering with me,
we agreed on the below:
He would contribute 80K on terms:
7.5% Interest only on his capital,
50/50 Split on sale profit.
4 year hold
this would give him about 11-12% return on his investment when we're all said an done.
Am i being too generous?
Did anybody else structure a deal in a similar way?
What do you think of the way its being done?
thanks
Post: Foundation crack on rental - How bad does it look?

- Southeast
- Posts 172
- Votes 13
Originally posted by @Mike Reynolds:
Originally posted by @Jonathan B.:
Originally posted by @Mike Reynolds:
@Jonathan B. Just from the pics you show it might not be that bad. The columns are the load bearing wall for the roof. The plaster ( I am assuming) you have on the first two pictures are cracked because of the load bearing wall sagging at the porch. I believe what has happened is the porch slab was poured with no beams. I have seen this all the time back in the '80s. Was it built during that time?
Have a contractor temporarily support the porch and tear out the porch slab. Then have them pour it with footers and dowelled into the main slab. They can straighten that roof out there as well when they do that. Maybe 6-10k like has been mentioned already.
Thanks Mike,
The first 2 pictures are from the backside of the house,
Does that change anything?
Yes that could. I didn't realize that was both sides of the house. Is that a porch on the back also?
The cracked porch is the front and the first 2 are the back side , what could be the potential scenario?
Post: Foundation crack on rental - How bad does it look?

- Southeast
- Posts 172
- Votes 13
@Dennis M. Would like be at 45-55k
Post: Foundation crack on rental - How bad does it look?

- Southeast
- Posts 172
- Votes 13
Originally posted by @Mike Reynolds:
@Jonathan B. Just from the pics you show it might not be that bad. The columns are the load bearing wall for the roof. The plaster ( I am assuming) you have on the first two pictures are cracked because of the load bearing wall sagging at the porch. I believe what has happened is the porch slab was poured with no beams. I have seen this all the time back in the '80s. Was it built during that time?
Have a contractor temporarily support the porch and tear out the porch slab. Then have them pour it with footers and dowelled into the main slab. They can straighten that roof out there as well when they do that. Maybe 6-10k like has been mentioned already.
Thanks Mike,
The first 2 pictures are from the backside of the house,
Does that change anything?