All Forum Posts by: John K.

Personally I would take the 0 points option. You're not getting much of a rate buydown in return for the 1-3 points that you would be paying in those scenarios. Their rates are reasonable though I'm seeing slightly lower options from my lenders right now. Feel free to reach out if you have any questions. 

John

Hi Anant, 

With current interest rates it is very hard to find anything that will cashflow. That's not to say that a property can't still be a good investment however, through appreciation and principal paydown. Another option is to get an interest only loan, which reduces the payment amount and thus allows for more cashflow. Feel free to reach out if you have any questions!

John

Hi Marcus, since you are self managing I would recommend listing it through Zillow rental network. If you list on the MLS, you'll have to pay typically 1 month's rent in commission to the realtors.

John

Hi Leira, I used Ace academy and was very happy with it. It's a quick course that you can do in your spare time. Once your licensed, I'd be happy to recommend a brokerage as well.

John 

Hi Connor, 

Congrats, househacking is a great strategy and it sounds like you have a good plan in place. Just make sure you know the rules for loans with a non-occupant coborrower, as depending on the relation (whether they are a blood relative or not) and the type of loan you plan to use, there can be additional requirements for LTV and DTI. Feel free to reach out if you have any questions!

John

Quote from @Ashton Fry:

@Max Traveler Thank you for the input! I am currently looking into a HELOC and I like this strategy as an option. Hoping I can get this seller UC

HELOCs are great, as you can always pay it back if things fall through with this property and you won't have any payments unless the money is drawn. I work with them quite a bit, so feel free to reach out if you have any questions! 

John 

Individual deals for flipping will always exist, but there are certainly far less out there now than there were 3-5 years ago. The labor and materials shortage has also made the process much harder and profit margins are very slim. For these reasons I personally don't recommend flipping unless you happen to come across a flipping good deal! 

John

Hi Bryce, I'm a mortgage broker based in Palm Beach and I actually got my start in real estate house hacking myself. In most cases these days the conventional 5% down is the best option, with FHA only being useful in a few select scenarios. I'd be happy to go over the options in more detail with you and get you pre-approved--feel free to give me a call anytime.

John 

Hi Rod, 

House hacking is an excellent strategy, and just got a lot easier as conventional loans now allow 2-4 units with only a 5% down payment. The rent from the other units is used to help you qualify for the loan as well. I'd be happy to go over any loan questions you might have, so feel free to reach out anytime!

John

Welcome Kieyuna!