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Articles by John Friendas
15 vs 30 Year Mortgage for Investor
Forum Categories All Member since 2024 · 46 posts · 28 votes Buffalo, NY · Member since 2018 · 790 posts · 530 votes 1y If your loan is $110K then the payment on the 15 year would be $927/month at 6.15%; 30 year option at 6.625% would be $690. If you want to grow aggressively then having the extra cash available to you today is more important.
1 Tenant Staying, 1 Moving
Forum Categories All Member since 2024 · 45 posts · 27 votes Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes 43m Investor · San Francisco · Member since 2026 · 35 posts · 18 votes 40m Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Maximum # of DSCR Loans Lenders Will Give?
Forum Categories All Member since 2024 · 44 posts · 27 votes Most Popular Reply Austin, TX · Member since 2022 · 7 posts · 6 votes 1y See this reply in the discussion Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes 1y It sounds like you are investigating the DSCR route due to lack of investment funds.
Sell or Rehab Moneypit
Hey, I have put over $100k in a property and it will cost $309k more to renovate, it has been a challange so far and has taken up 2 years. Essentially, I took on a 4 unit old property that had way more work than I thought it would. The mortgage is $150k and the arv is $600k. Part of me thinks I should just cut my losses, however, it would be difficult selling in an unfinished state. It is in the midwest in a growing town.
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HomeStyle Renovation Loan Broker Needed
I need a Homestyle Renovation loan, I am in the SW Ohio area. Ideally someone would have multiple banks they work with that offer this. At this time I am not interested in hard money, dscr, or other financing. Most banks do not specialize in Homestyle so I am trying to find a lender with a good rate who does.
Want Homestyle/DSCR Renovation Loan
Hello, I am mid-renovation and am looking for a lender. The home is partially gutted and I plan to have a general contractor take over and finish the project. I am interested in a Homestyle, DSCR, lor another option that would work with low current equity. Rough numbers: Renovation amount needed: 150k Current mortgage: 140k ARV: 375k Expected total monthly rents: $5,000
Mid-Renovation and Need Money
What would you do in my situation? I am mid-renovation, the home is partially gutted and I plan to have a general contractor take over and finish the project. It has been undergoing renovations for over a year and I learned that I am not a good general contractor. My thought was to take out a renovation-type loan (homestlye, dscr) and to get the project completed.
Loans Mid Renovations
What are the lowest cost loans mid-renovations? My DTI is getting up there as I own two properties now: 1 being rennovated and 1 rented out for 7 months. Both in Ohio. The property I bought for 150k and it appraised for 350k when I purchased it. The zoning is a bit weird as to whether it is a duplex or quadplex. Now I am trying to get it fixed and rented out but with all of the renovations I am running out of money and needing extra funds to complete the project. I am making sure to budget better now.
Scaling After 2 Properties?
Hi, I have two properties and am looking to scale from here: House 1) Student rental sfh: cost $125k and brings in $1400 monthly rent. House 2) Quadplex I’m living in while full rehabbing, half way done. Cost $150k, should be worth around $300-350k when it’s done. (Hope to do a cash out refinance) Since my income is about $75k, how do I scale from here? I see interesting deals pop up here and there but am worried about using up my dti for my cash out refinance.
Slow Rennovations, What to do in My Situation?
Backstory: Bought a 4-unit 1910 house at 3.5% down for $200k that needs a lot of work with great bones. I have been rennovating it for the past 4 months with an electrician, plumber, and carpenter, they are only $60 an hour but progress is slow. They are busy but do good work for a good price. I am eager to move onto other BRRRRs but feel stuck. I want to expedite things because I feel like I'm missing opportunities with future houses but the price and work is good.
Cheapest Barebones Ohio Home Insurance Companies
Which insurance companies (not brokers) generally have the cheapest home insurance rates? Barebones, most of the property is being gutted but the bank requires insurance. My current one is $1300 annually for $800k in the event of rebuilding. Highest deductible for a large, old home. The reason I want to switch is required repairs (It would mess up the order of my rennovations and I can't do them now).
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