Building Wealth through Residential Real Estate Investing
Whether you are acquiring rental properties (such as duplexes and townhomes), building a spec house, or rehabbing a small multifamily building you own, it is obviously important that you have access to the right lenders and loan products if you are to succeed. The same is true whether you are in the fix and flip space or intend on buying and holding the asset.
Wexum provides you, as an investor, a one stop shop for financing through our extensive network of funding sources. For example, consider some of the options that are available to our clients:
Single Asset Loans
As referenced above, Wexum can help you quickly identify the right lender and loan product to finance your acquisition of individual rental properties such as SFRs, condos, townhomes, duplexes, triplexes and quadraplexes.
- 75% LTV, fixed rate, up to 30 year terms, and loans of between $100 thousand and $1 million or more
- Close in as little as 3 to 4 weeks
Portfolio Term Loans
These types of loans are typically available where you have 5 plus rental properties to be included in a transaction.
- 75% LTV, hybrid and fixed rates, 5, 10 and even 30 year terms, and loans of at least $500,000
- Recourse and non-recourse options
- Close in as little as 4 to 6 weeks
Acquisition financing available to seasoned investors.
- 80% of cost, fixed rate, 12 to 24 month term, $1 million to $50 million credit facility
- Revolving and non-revolving options
- 2 to 4 weeks to close
Fix & Flip and Construction Financing (for Spec Houses)
The more experienced you are in this space the better terms you can expect to see in this short term financing arena.
- Up to 90% of purchase and rehab costs, 13 month to 2 year terms, and loans of at least $250,000
- Up to 100% construction financing for your spec house if the lot is owned free and clear
- Fixed and floating rate options
- Quick close possible
In addition to traditional multifamily structures, these types of projects may also include mobile home parks (pad rental focused) and townhouse communities with between 5 and 20 units or more. Further, well qualified investors (i.e. net worth in excess of loan amount, liquidity in excess of 9 months debt service, and a credit score of over 650) may enjoy access to even more attractive terms provided by agency loans.
- Up to 80% LTV, 5 to 10 year terms, 25 and 30 year amortization, and loans of at least $750,000
- Hybrid and fixed rate options
- Cash out refinance available
- Close in 30 to 45 days
Please note that the minimum debt service coverage ratio (DSCR) will almost certainly be 1.20.
Learn More About Your Financing Options via Wexum
If you are acquiring a residential rental property, or are wanting to refinance one you already own, contact Wexum to find out more.