All Forum Posts by: John Herold

If you can find it, given the amount of capex for each home, I would initially go with a fix & flip portfolio loan and then either sell or refinance into a long-term rental portfolio loan.  The challenge will be finding a lender ok with low values, as many have minimum values per home and minimum amounts for the portfolio loan amount. 

How are you financing the purchase?  With seller financing?  if with a bank, the bank will make you pay for an appraisal anyway.  Also I'd take a close look at those government leases, as they often have termination options in them.  Maybe even consider asking the seller to rep in the contract that they have not already received notice of such a termination.

Agreed. I think this is especially true in the short-term, as many more are wanting to travel post Covid. In addition, you don't need to even have a job or any personal income to qualify for an investment mortgage to buy these properties (although if you use these low doc DSCR loans, you would not be able to occupy them for your own personal use).

There are lenders out there that will do that refi with no waiting period.  Message me if you'd like more details about this.

Why not do both?  Consider investing in RE stocks and buy in when the public trading value of the RE implies a big discount to the prevailing private market values of such RE.  This is not for everyone and requires sophisticated analysis of both the RE and management team, etc.

Also moving the home (a second time) could limit end unit financing further.

Maybe see if you can buy the leased land and then tee up "land and home" sale so a buyer could get conventional financing.  Otherwise sell home only with "home only" financing options researched in advance for a buyer.
 

If ownership concentration is the only issue, several non-QM lenders would lend on these condos either as an investment or as a primary residence.

Maybe buy a 4-plex with a high LTV FHA renovation loan program (with rehab costs funded by debt), but you'd need to live in 1 of the units.

21st Mortgage