All Forum Posts by: John K.
John K. has started 10 posts and replied 297 times.
Post: Certified clinical medical Assistant
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Quote from @Joanna Miller:
Quote from @John K.:
Hi Joanna,
There are plenty of programs for first-time homebuyers, including many with low down payments like 3% and some even offering 0% down. Your eligibility for different programs just depends on your income and other factors. Feel free to reach out with any questions!
John
When can I give you a call? About the program
Hi Joanna, you can give me a call anytime--my phone number is in my signature.
John
Post: Looking to purchase first STR in Fort Myers, FL area - Any tips from other investors?
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Hi Joseph,
Short term rentals can be great for extra cashflow, but sometimes the financing can be tough as it generally considers long term rental income. There are DSCR loans however that use short term rental income to qualify, which can get you better terms. Feel free to reach out with any questions!
John
Post: Insurance options for STR in PCBeach, FL
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Hi Heather, I have a good insurance broker contact that may be able to find you something better. Feel free to reach out and I can get you connected!
John
Post: Investor hold of 20 days
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Hi Parker, DOM means days on market. It looks like they are giving owner occupants first rights on the property before opening it up to investors. Feel free to reach out with any questions!
John
Post: Best area in Jax for mid term rental
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Hi Austin,
I have a good agent contact in Jacksonville--feel free to reach out and I can get you connected. I'm always available to answer any loan related questions as well!
John
Post: Purchase 1st Investment Property 2024
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Hi Adoney,
House hacking is a great strategy to get started. The best low down payment options in opinion is the conventional 5% down (if eligible for homeready/homepossible it can be 3%). This is available on 2-4 unit properties and the projected rental income from the other units can be used as income to qualify for the property. Feel free to reach out with any questions!
John
Post: New roof color options
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Lighter colors are usually best on a roof to reduce the energy bill. I like light grey personally, as white gets dirty very quickly anyways.
Post: Stocks vs Real Estate
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Agreed! Long term investing is the best way to assure success.
Post: Investing around Tampa, Fl
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Hi Danaysi,
With current interest rates it's definitely tough to cashflow consistently. Some creative options are available however, such as using an interest only loan to reduce your monthly payment. Feel free to reach out with any questions!
John
Post: Low credit score. Need to refi out of hardmoney
- Lender
- West Palm Beach, FL
- Posts 306
- Votes 122
Hi Pafoua,
DSCR would be the typical option for this, though if your FICO score is under 620 that likely wouldn't be an option. Depending on you current hard money terms, it could be possible to essentially refinance into another equity loan with better terms. I also have a contact for credit repair that may be able to help you raise your score enough to do DSCR--feel free to reach out and I'd be happy to share the contact.
John