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May 13, 2019 | The DI Wire
Starwood Capital to Develop First Opportunity Zone Project in the Bronx
Starwood Capital, which manages a Qualified Opportunity Fund, invests in Opportunity Zone Charter School project in the Bronx, NY. –more–
One Colorado group is tackling Denver’s affordable housing shortage by making low-income residents landlords of “granny flats,” according to US News & World report.
The Fed is likely to sound hawkish when it announces an expected rate hike Wednesday and releases its new economic outlook….
Rents in the third quarter of this year were up 2.9 percent compared with a year ago….
The no/low documentation is an interesting loan product that is making a comeback since the financial collapse of 2008.
The basic criteria:
- minimum loan amount is $500,000
- max LTV is 75%
- minimum credit score is 630
- must have cash reserves; the amount of the reserve varies based on the deal
- must have experience investing
- must provide tax returns or forms requesting extension
To get started with the no doc loan we will need the following:
- Executive Summary
- Bio on borrower that highlights investing experience
- last 2 years tax returns or extension form
- PFS – (Personal Financial Statement)
- P&L’s on the subject property for last 2 years
- Rent Roll
- last 3 months bank statements
- signed and countersigned contract on the subject property
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