All Forum Posts by: Andrew Strong

You should seek out Adrian Smude, hes the mobile home king and local to our market. We've done some of them before, typically you stay away from 55+ communities, you want ones on their own land, etc... they can be good options to start but typically want to be weary of those with lot rent unless they will give you a discount or few months rent free if you are restoring one thats been vacant for a while. Adrian also has a great book where he shares all his stories/tips. I'd read this first before starting down the mobile home journey.

Hey Mary, there is still a lot of opportunity in FL. Some asset classes can be hard to make the numbers work but I have still been able to have success in Tampa in a variety of ways. Just a matter of having a consistent pipeline of leads to offer on. 

 I have helped many investors start in Central Florida. Orlando is a growing market, but it is harder to cashflow here. An hour outside of Orlando presents better opportunities. Still, when you look at net migration patterns, Florida is a good bet, with more people moving to the area every year. If you have specific questions, I'm happy to help answer them. Orlando offers the unique Disney Short Term rental market.

Hey Andrew, if you're looking to flip a SFH I'm assuming the property is somewhat distressed and you need rehab funding as well. Even with excellent credit and a good job, it's likely that the 'as is' condition of the home won't conform to conventional guidelines. This is where a hard money loan comes in.

Once you get the property rent/tenant ready post renovations, that's when you can look to refinance into conventional financing. As @Katherine Blazer mentioned above, it sounds like DTI might be your limiting factor for the loan amount you can take out? In that case, a DSCR loan would be your best bet where you'll qualify for the loan based on the rental income the property will produce (as opposed to your personal income/debt).