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Updated over 6 years ago on . Most recent reply

Anthony Grandinetti's profile image
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Anthony Grandinetti
  • Rental Property Investor
  • from Fort Myers, FL
  • Member since Oct 27, 2018
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Anthony Grandinetti's profile image
Anthony Grandinetti's profile image
Anthony Grandinetti
  • Rental Property Investor
  • from Fort Myers, FL
  • Member since Oct 27, 2018
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Anthony Grandinetti
  • Rental Property Investor
  • Fort Myers, FL
1
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14
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Starting Out

My first investment loan quote

Anthony Grandinetti
  • Rental Property Investor
  • Fort Myers, FL
Posted
So I found a deal I really like. A quadplex asking 270k with about $4500 monthly rental income. I contacted a lender I met at my local real estate investor association meeting to get a quote on financing. He preapproved me with an 8.25% interest rate and 20% down. This is my first deal so I don’t know the standard but this rate seems high to me. Please give me some advice!
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Ryan Murdock's profile image
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Ryan Murdock
  • Rental Property Investor
  • from Maui, HI
  • Member since Aug 10, 2016
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Ryan Murdock's profile image
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Ryan Murdock
  • Rental Property Investor
  • from Maui, HI
  • Member since Aug 10, 2016
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Ryan Murdock
  • Rental Property Investor
  • Maui, HI
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Ryan Murdock
  • Rental Property Investor
  • Maui, HI
ModeratorReplied

Rates have gone up recently but 8.25% seems high without knowing all of the info. Shop around.

  • Ryan Murdock
  • Podcast Guest on Show #355
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