All Forum Posts by: Katherine Blazer

I would check the math on what the payments would be and the change in your cash flow.... Yes, your rate is going to go up but will your money work harder for you in other places than what you are saving between the rates.

9 Votes

Philadelphia, Pennsylvania

Are you planning on living in this property? There are other options if not

1 Vote

Quote from @Ivan Fence:

Hello, i am a foreigner wanting to use creative financing to invest in Florida buying rental single family homes and multifamily properties.

I tried banks but the all want 25-35 % downpayment. With closing costs this will add up to much for me.

I have looked into hard money lenders but the math does not seem to add up for me.

Most will want you to pay 10% interest rate.

This will only make sence on flips and very high return rentals in my opinion.

Has anybody here used hard money for rentals? How did the math add up?

What are my options here?

It sounds like you are looking at bridge loans or value add loan options. There are longer-term 30 year fixed options available for rental properties.

1 Vote

Quote from @Hartley Schwartz:

@Katherine Blazer Wow thanks,I'll check out the Bankers code. So it seems that you can really be dynamic with it. If you had a quick tip for a new lender, what would it be?

Find a brokerage that lets you work in all the areas you want to explore. I am blessed, I can do traditional loans, Investment flip loans, commercial, DSCR, non-QM, and my broker is amazing and also an investor. I focus a lot on new investors because it's fun for me. Set up the infrastructure, email drops things, the pages things to collect emails.

0 Votes

@Hartley Schwartz Try reading The Bankers Code. It's a great book that breaks down lending. I got my real estate license first and then my LO license. I use my loan license more today; I like the freedom to travel, but I also love listing properties for my investors and rehabbing. It just really depends on what you want your day to look like.

1 Vote

Originally posted by @Paul Higbie:

@Katherine Blazer. We specialize in working with investors who are buying value add properties and then refinance to add to their rental portfolio. We have a 90 day seasoning, 30 year fully amortization, rates in the mid-4’s and no income qualification. Let me know if we can be of assistance.

How many points?

0 Votes

@Scott Winter If you purchase with a hard money loan, and are doing a rate and term some lenders may not require seasoning. To pull cash out, the lowest seasoning I have seen is 6 months currently.

2 Votes

Hi @Rachelle Jones, If he is going to use it as his primary residence he should be able to qualify for FHA and conventional. You may even be able to do less of a downpayment. If he is claiming it as a second home, then 10% would be right.

0 Votes

@Brock Michael Congratulation on realizing you need a coach. I have had great coaches and not-so-great ones. I will say I have learned something from each of them. My favorite coach was Paul Provencher; find him on Facebook/Instagram. I think he is taking new students.

1 Vote

@Eric GarciaI agree with everything @Khaled Morad said. Tampa also offers the option of a great long-term rental market which gives you a backup plan.

3 Votes

All Forum Posts by: Katherine Blazer

Katherine Blazer has started 67 posts and replied 322 times.

Post: How to get money out of investment Property

Post: Fha mortgage loans on multifamily

Post: Hard money for rentals

Post: Starting off in Mortgage brokerage ?

Post: Starting off in Mortgage brokerage ?

Post: Lenders...what's the deal with the seasoning period?

Post: Lenders...what's the deal with the seasoning period?

Post: Financing question on 3 unit property

Post: Where do I find a mentor

Post: Florida Vacation Rental Market