Rental Property Investor · Westchester County, NY · Member since 2019 · 26 posts · 4 votes
I am in the process starting my rental property portfolio in the Charleston SC area. I have a realtor that I am working with and would like to speak to some mortgage brokers and get preapproved. Does anyone have any recommendations?
Real Estate Agent · Charleston, SC · Member since 2019 · 30 posts · 13 votes
5y
@Michael Morelli Rob Wade at LoanDepot is your guy. Let him know I sent you his way. He did my latest deal and does tons of deals for my local meet-up. Let me know if you need his info.
Lender · Denver, CO · Member since 2017 · 348 posts · 143 votes
5y
I do not know any lenders in SC but make sure that whoever you talk to if you are buying as a rental and not house hacking that you make sure they understand that and qualify you accordingly upfront. A lot of people forget or do not know that with a rental property unless you have 2 years experience that can be proven via your schedule E on your tax returns that you cannot use rental income as qualifying income so you will need to qualify for they house you live in as well as the rental which can be more difficult to stay within their DTI guidelines.
Congrats on starting your investing and good luck, I hope you find some great deals.
Real Estate Agent · Charleston, SC · Member since 2019 · 30 posts · 13 votes
5y
@Michael Morelli Rob Wade at LoanDepot is your guy. Let him know I sent you his way. He did my latest deal and does tons of deals for my local meet-up. Let me know if you need his info.