All Forum Posts by: Jack Mawer

Mike, a DSCR loan would be in your best interest. When did you purchase the property? Most lenders do require a seasoning period, but it is usually under 12 months.

Paige, I would be sure to look at comps in either of these cities and would encourage you to do your research and look for an area that is growing and will provide you the best ROI. Good luck!

Josh, your monthly payment will be calculated based on your loan amount, not the ARV on the property. Say your LTV is 75%, your payments will be based off of your interest rate on the value of $105,000. And yes, most lenders rates are currently between 6-8% due to the volatile market. Good luck!

Kay, you can definitely start with a construction/bridge loan and then convert to a rate-term or cash-out refinance with better terms and long-term debt. 

Does anyone have any meetups that they recommend for the Austin area?

Welcome to BP Eldon! Your service is greatly appreciated. I wish you luck on your real estate investments!

Welcome Steven! Congrats on being a licensed realtor, I have my license as well. I am just getting into the BP podcasts, any in particular that you would recommend? 

What college is your friend attending? It also would depend on what his specific goal is with obtaining real estate knowledge. In general, I would say any financial knowledge would be beneficial for real estate investing, and some colleges even offer a finance major that is strictly focused on real estate. 

Welcome Jude! Congratulations on passing the RE course exams, I am very familiar with the real estate license process and know how time consuming it is. I wish you the best of luck with the state exam, there are a few prep courses through Champions that I would recommend to you. I took a 20-hour prep course and was able to pass the exam on my first try with minimal studying!

Jose, the market is rapidly changing and is volatile at this point in time. As the fed continues to raise rates, expect to see rates fall in the 7's for these types of loans.