All Forum Posts by: John K.

Hi Caleb,

I work with several lenders that will do a HELOC on an investment property up to 85-90 LTV. Feel free to reach out and I'd be happy to answer any questions.

John

Hi Matt, since you mentioned house hacking I just wanted to make sure you know that LLCs aren't feasible with an owner occupied loan. As long as it's just an investment property however, there's no problem and I even have lenders that will close directly into the LLC.

John

Hi Bradon,

Whether it's technically considered a single family with an in-law suite, or a 2 unit property, you can get a conventional loan with 5% down for either now. The rental income from the other unit can only be used to help you qualify in the case of being considered a 2 unit property. Feel free to reach out with any questions! 

John

Hi Nathan,

Congrats on the move! Just wanted to say to make sure you're careful as you look for properties since VA loans have some stricter requirements for 2-4 unit properties, where they need to have a separate water and electric meter for each unit. Let me know if you have any questions!

John

Hi Vince,

It depends a lot on the type of program (Conventional, FHA, VA, Non-qualified mortgages) as well as the property and borrower. In general, a refinance requires documents proving the income of the borrower such as paystubs and W2s, as well as an appraisal of the property.

Hi Gabriel, 

I agree you'll get better than a 3.76%-5.05% return on another RE investment, so I personally would go that route. A conventional loan has better terms/rate than DSCR, so if you can qualify for it based on your DTI, it's the no brainer. If not however, you can still do DSCR which doesn't look at your personal income or DTI. Feel free to reach out if you have any questions or want to go through things in greater detail.

John

I've never heard of this, but it sounds like an interesting option! I'm not sure how you would advertise them to be booked together however, as Airbnb/Turo don't have an official partnership. 

Hi Mark, I think your realtor's comments about getting a credit are realistic, however I would always ask for more first and then negotiate down when needed. 

Hi Yeilee, I do have a good contact for home insurance--feel free to reach out and I can share their contact. 

John

Hi Lucas, 

I have a good contact for an agent in Tampa--feel free to reach out and I'll send their contact. 

John