All Forum Posts by: Zach Edelman
Zach Edelman has started 19 posts and replied 1227 times.
Post: Dscr loan Co-signer
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
It depends on ownership of this other "co-signor." Is this loan/property being vested in an entity? If so, is the ownership 50/50, or another structure?
Post: Looking for a Dscr Loan
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Recommend looking at BP's recommended list for DSCR lenders.
Post: Out of State Investor looking to do STRs near the Smokies
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Quote from @River Sava:
Hey Chelsea - Highly reccomend reaching out to @Zach Edelman. He frequently works with STR investors in the Smokies
River - thanks for the referral. Chelsea - sending you a DM!
Post: DSCR "Rural" lending
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Quote from @Steve Carey:
Quote from @Zach Edelman:
Hello! I know of firms, such as my own, that can lend on rural properties just at reduced LTV. My firm specifically can do 65% LTV on rural properties across all transaction types.
@Steve Carey yes this is! Please send me a DM so we can connect!
Post: Refinance Options for STR when loan-to-value ratio (LTV) isn't enough
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
John - You still should be able to find a lender that can do up to 80% LTV on an STR.
Post: Searching for 80% to 85% DCSR Lenders
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Jace - I'd suggest looking at BP's list of recommended DSCR lenders. They should be able to assist you with this. Most DSCR lenders I will note can go up to 80% LTV on rate-term refinances. 85% LTV is a lot more of a rarity.
Post: Three Killer Poconos STR Renovation Examples
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
These are some sick Air BnBRRRRs!
Post: Beginner Investor - Fix and Flip need lending
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
There are certainly hard money lenders that will lend to first time investors without exorbitant fees. Should be on BP as well under their list of recommended lenders.
Post: Question about cash out refinancing
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Hey Corey -
Three things I’d like to highlight are:
1) Most lenders will have a leverage cap on doing a portfolio loan versus doing a single asset, so definitely ask the lender(s) that you’re speaking to about this.
2) Be mindful that a portfolio loan will save a decent chunk of change (thousands of dollars) on closing costs, so that can make it worth it.
3) Lenders will also have partial release clauses for paying off individual properties in the portfolio. Definitely ask your lender(s) about this as well.
Post: DSCR lender in/for DFW rental portfolio
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Quote from @Derek Todd McCarley:
I am looking for a DSCR lender for a portfolio of 7 small SFR here in the DFW metroplex.
Would be looking for 1% origination.
Purchase price is $1.3mm w/ down payment of $325k. =975k loan
6 of the 7 homes have renters in place. Cumulative cash flow fully occupied is $13,030.
DSCR between 1-1.25% criteria suitability from lender.
Close 25 days
If are a lender and can meet or beat this criteria with certainty please lmk and I can start sending over the information.