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LaPlace, LA
A Louisiana investor’s properties included four single-family homes in LaPlace, Louisiana, on the southwest edge of Lake Pontchartrain.
By the Numbers:
$506,450
Loan Amount
72%
Loan to Value Leverage
4-Property Portfolio
Cash-Out Refinance
The Opportunity
A Louisiana investor’s properties included four single-family homes in LaPlace, Louisiana, on the southwest edge of Lake Pontchartrain. He wanted to use the equity in his portfolio of rental properties to further his investments with additional purchases. So he went on a search for cash-out refinance DSCR loans with the highest leverage possible.
Because he had previously financed both fix and flips with Lima One, and had refinanced one property into a rental loan, he approached his loan officer to see what Lima One offered.
The Solution
Lima One refinanced four LaPlace properties for a total of $506,450 at a combined 72% loan to value leverage. This gave the investor strong cash-out proceeds and move onto the next deal.
Lima One’s flexible DSCR loan structures allowed the investor to choose the optimal interest rate and leverage on each property, ensuring that the investor’s cash flow remained intact while providing for his desired exit strategies. The result was a win that helped the investor continue to grow his Louisiana-based real estate business.
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