All Forum Posts by: Michael Cohen

Sorry. Hit send too soon. The reason is because when they're packaged together you won't be able to sell them individually. You'll have to find somebody else willing to purchase all four properties. That dramatically reduces your potential pool of buyers, and increases your holding costs until you find him or her.

I didn't really state why, just gave my advice.

If your goal is to buy and hold to build cash flow from rentals, doing a portfolio loan, or package deal as you call it, it would be fine. If this is a flip, we are each property will be sold separately to homebuyers, you absolutely do not want to package them together.

Hi suggest wearing about building your team once you get there. Until you're ready to start looking and submitting offers within the next 30 days, many realtors and or lenders may not take you seriously.

If the positions are all within the same industry, that will not be a problem. If you are changing careers, especially more than once, within a two year window, the underwriter will certainly look at you as a riskier potential buyer.

The rate you get is going to be dependent on a number of different factors, as other people have pointed out, in addition to the prevailing market rate at the time you lock. If you don't have a ratified contract, the rate you're being quoted is meaningless. Rates change every day, often twice today. I agree with Melvin. Stay local. No lender, big bank or otherwise, consistently has better or worse rates. Whether that's veterans United, Bank of America, or Bob's mortgage company down the street. Lenders are always assessing the market, And trying to stay competitive. Also it's very common tactic for a lender to give you a lower rate but then build it in the closing costs so be aware of that as well. So if you're talking to ethical lenders/loan officers, the rate differences should not be that much. Compare two lenders, make a decision, and move on with your life. Don't get stuck and analysis paralysis. Good luck!

As a lender in the Baltimore area, I know a lot of investor friendly agents. PM me and I would be happy to give you some names.

Property taxes you pay are determined by actual county taxes, not on the estimated value. Until your property is reassessed by the county, you will continue to pay that amount. Regardless of ownership change or refinancing.

My advice would be to focus on the deal first. That way when you speak with a potential lender you can say "I'll have more like this." rather than "I'm new and *hope* to have a loan for you one day!" I would certainly take that client more seriously.

PM me your info and I'll find some names for you.