All Forum Posts by: Mark Mazzucco

Like mentioned earlier, moving into a new primary, if you are able to, is always the best way. Better rates / financing. 

Some people can't so easily due to having families or other reasons and if you don't have anything holding you back, definitely not a bad route! 

I know owning stuff free and clear is the goal, but the way you should think about it, is that you have someone else paying your mortgage off, plus you have a lot of write offs you can do with a rental property to help with your taxes!

Hi there Michael, I have some clients that have STRs in Lake Powell and Page and they both seem somewhat saturated but what I've seen it just takes good properties and they will naturally do well.

But there are definitely some other good options in DT Gilbert area or others in AZ that would probably cash flow really well. Feel free to reach out if you want some advice as I have several STRs in the valley!

There's definitely a lot of stuff on STRs here on the forums, but you would benefit from using realtor/lender that has experience with these...

I actually have 3 STRs and 6 LTRs and would love to mentor you if you need any help. A lot of the time I see people getting STR and LTRs and they don't pencil out because they are not using investor experienced real estate people, so that would be my first advice for you! If you want more help feel free to message me!

Hey Marc - definitely DSCR can work, but I would definitely steer away from that route if you can. Those are going to get much higher interest rates than the standard conventional investment property purchase. So if you are planning to get a property, see if you can go traditional financing first.

A lot of the comments above are correct for sure. You definitely want to make sure you trust and feel comfortable with the lender you're using because you don't want to be paying excess lender fees and processing fees. 

If you have any questions feel free to shoot me a PM!

If you are doing it on a property that is completely paid off, you'll save 10x more by just doing a traditional cash out refinance because then you wouldn't be subject to variable interest rates. The HELOCs really come into play when you already have loans on properties. 

If you have more questions on it I've built a calculator to show the breakdowns of when things make sense!

I think that is a solid plan! Even outside of the AMI, FHA or conventional 3% for first time homebuyers is still solid options!

I think you could also look at conventional 3% down if you have below the 80% AMI, you would qualify for lower rates and lower PMI! So always a good option.

I know I just helped one of my clients that had 15K saved and got into a duplex for that 15K roughly and had sellers pay the closing cost. Now renting the other unit to pay her mortgage! LIVING Free!!! 

I think it's great you're trying to figure out what to do though. In Houston could be a little tough, but some of the surrounding areas like Pasadena or Sugarland outskirts definitely are great rental areas.

 I have a no seasoning period one, 1,2,3,4,5 year prepayment penalties! So honestly whatever makes the most sense for your situation!

I flipped the home in terms of renovated it and hence the "flip and hold" on the top. I flipped it to sell and then realized how much the cash on cash return was so I held it. I have 75K invested and now have 1500/mo coming in per unit, not sure how that doesn't explain what it generates?

Yeah - all very true, and most do charge around 2%-2.75%. I know at my broker shop I charge a flat rate of 3K on DSCR deals to help give back to my investors (especially from Bigger Pockets)! I actually just did a DSCR deal out in Ohio at 8.125%, so happy to talk through options if you need anything more!