All Forum Posts by: Zach Edelman
Zach Edelman has started 19 posts and replied 1227 times.
Post: Investor in New York City
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
I'm in NYC too! Would love to connect.
Post: Starting Out in Real Estate Investing
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Welcome to BP! Lots of good low cost REI opportunities in Memphis!
Post: New to Jacksonville, ready to dive in
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Welcome to BP!
Post: First time investor looking at Houston metro area
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Welcome to BP! Lots of good opportunities in HTX especially with the investor friendly zoning (or lack thereof).
Post: my second buy and hold
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Quote from @Ko Kashiwagi:
Hi Derray,
If you are looking to simply get cash out of the deal based on the purchase price, you can do a delayed financing. If you want lenders to consider the new value, you can do a cash out refinance after satisfying the seasoning requirement. As you mentioned most lenders need to wait 6 months but some only require 3 months.
This is correct. Some lenders don't require 6 months to do a cash-out refinance and lever off the appraised value.
Post: First rental property
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Nice! Where's this at/where r u living?
Post: Short Term Rental Property in Whittier, NC
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
How'd you finance this?
Post: My first BRRRR deal
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
Nice, good job on the refinance. Way to get that number you needed to hit on the appraisal.
Post: STR near Yosemite National Park
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
3% down on conventional. How did you get/qualify for that? Just a standard conventional loan?
Post: Short term rental Hard Money Loans
- Lender
- Austin, TX
- Posts 1,263
- Votes 1,284
When you reference "Hard Money" are you referring to a fix and flip or bridge loan, or just non-QM? DSCR for STRs is commonly mislabeled under the "hard money" umbrella, when it's in fact a 30 yr fixed, fully amortizing loan (same structure as Conventional), with rates similar to conventional.
Also, is this acquisition a turnkey property, or one that needs work? If it's turnkey, and all your worried about is DTI, there are other good options for you other than "Hard Money" loans.