All Forum Posts by: Zach Edelman
Zach Edelman has started 19 posts and replied 1227 times.
Post: DSCR 1st timer
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
This seems pretty expensive for current DSCR terms for a 75% LTV acquisition TBH. Especially considering the 5 yr PPP. I'd suggest looking at BP's list of recommended DSCR lenders and see what arises.
Post: Looking for Long-Term Lender for Airbnb in Indianapolis
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Hey @Guy Keren! I specialize in lending on STRs. Linked here is my IG which is solely dedicated to STR financing: https://www.instagram.com/zachedelmanesc?igsh=MWZoZm1mOTl2M2...
I’d love to help you out!
Post: Financing for STRs in the Pocono and Catskill mountains
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Welcome to BP! Plenty of STR friendly lenders here.
Post: Urgent: Need advice on choosing DSCR loan option
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
There should be lenders that can execute with 20% down as well. Not sure if that's of interest.
Post: Looking for Hard money lenders
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Quote from @Robin Simon:
Quote from @Garrett Brown:
Welcome to the forums Manish! Luckily, BiggerPockets has a great investor-friendly lender finder that can help you with this search. Check it out!
https://www.biggerpockets.com/business/finder/lenders
multiple ways - the Find A Lender tool that @Garrett Brown mentioned, the "Classifieds" subforum (this post will probably get moved there), googling but probably best what you are doing here which is interacting with lenders (or brokers/intermediaries) directly on BP!
Do you have any more details to share?
-Experience level - is this your first flip or do you have some experience (if so, in the same market)
-How much leverage (loan amount) are you looking for?
-How important is speed? (some hard money lenders will do no appraisal so the deal can close very quickly and with better certainty, while some will potentially offer a bit lower rate/fees, but require the added risk of a required appraisal that could come in low, or cause you to lose the deal on speed or versus a quicker cash offer)
I am echoing these points.
Also things to consider will be the purchase price, rehab amount, and the purchase to rehab ratio, and how your experience compares to those figures. Your FICO score will also be considered.
Post: Closest STR market to NYC
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Could go the Jersey Shore route: Atlantic City, Cape May, etc. Or could go the LI route: West-Hampton, Fire Island, etc. Would also recommend college cities: New Haven - Yale, New Brunswick - Rutgers.
Post: Rate and Term Refi After Hard Money
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Lot's of lenders don't have seasoning requirements for rate-term refinances. Would look into BP's list of recommended DSCR lenders for this.
Post: Seasoning Periods for Limited Cash Out Refi
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
This is an investment property for you, correct?
Post: Chattanooga Investor Friendly Lender
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Happy to connect as well! 8.500% sounds high currently.
Post: The Top 10 College Football Town for Short-Term Rentals
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
This is sick!!! Thanks for sharing.