All Forum Posts by: Ray Williams

Attention BiggerPockets Investors! If you're looking to expand your short-term rental portfolio or enter the STR market, check out this specialized mortgage solution:

DSCR & STR DSCR: Easily qualify using AirDNA figures—no haircut, no minimum market score, or occupancy % required.

NO Prepay penalty option available

Ideal for First-Time Investors: Must currently be a homeowner, but no prior investment experience needed—perfect for first-timers looking to jump in!

Flexible Credit Requirements: Minimum 680 FICO (for joint applicants, the higher score is considered).

Interest-Only Payments Available: Improve your monthly cash flow and maximize your investment returns.

Generous Leverage: Up to 85% Loan-to-Value (gift funds allowed, with at least 10% from your own funds).

LLC-Friendly Financing: Protect your assets by vesting your property in an LLC.

Cash-Out Refinances: Unlimited cash-out at 60% LTV, up to $500K cash-out available at 75% LTV.

Available in These States: AL, CA, CO, CT, FL, GA, IN, LA, MO, NC, NM, OH, PA, SC, TN, TX, UT, VA, WA, WI.

 Interested or have specific questions? Shoot me a DM  (*or schedule a call www.calendly.com/mortgagemaestro)and let's discuss your investment goals!

We have a new program rolled out, yes you can get NO pre-payment if you want

DSCR & STR DSCR (*Off AirDnA, no haircut, market score, occupancy % required)

MUST be a homeowner, CAN be a 1st time investor

680 FICO (*Will use higher score if there are two borrowers)

Interest Only available

85% Loan To Value (gift funds allow, does require 10% of your own funds)

LLC is acceptable to vest in

Cash out allowed, no cap on amount (60% Loan to Value), $500K (to 75% Loan to Value)

Schedule a 1:1 https://mortgage-maestro.com/contact

*Eligible for: AL,CA, CO,CT, FL,GA, IN, LA, MO, NC, NM, OH, PA, SC, TN, TX, UT, VA, WA, WI

We have a new program rolled out, yes you can get NO pre-payment if you want

DSCR & STR DSCR (*Off AirDnA, no haircut, market score, occupancy % required)

*Rates comparable to traditional investment property loan programs, although interest only is available*

MUST be a homeowner, CAN be a 1st time investor

680 FICO (*Will use higher score if there are two borrowers)

Interest Only available

85% Loan To Value (gift funds allow, does require 10% of your own funds)

LLC is acceptable to vest in

Cash out allowed, no cap on amount (60% Loan to Value), $500K (to 75% Loan to Value)

Schedule a 1:1 https://mortgage-maestro.com/contact

*Eligible for: AL,CA, CO,CT, FL,GA, IN, LA, MO, NC, NM, OH, PA, SC, TN, TX, UT, VA, WA, WI

Depends on the loan you took out. If it were a DSCR you likely have a prepayment penalty. If it were conforming, you would not have a prepayment penalty. From there, what's the benefit? It could depend on the timing of rates 13 months ago compared to now, it could make sense or to wait could make sense.

Colorado Q10'80 -Q1-'20 = 4.55% , would certainly be much higher if I include the COVID years data. Although I don't consider that normal. 

203K and Homestyle can be great ways to finance in the cost of improvements. I can say from having taught classes on these loans that your contractor will be the biggest key to your success. If the agent you work with is not familiar make sure the lender is, so you have someone who can confidently navigate this path for you. Shoot me a DM with questions 

It has been years since, but start with what is important about buying , for you. Will this home be something you use as a ladder to another, or will it be in your portfolio to grow wealth and cash flow in the future. I can say one mistake I made was while buying in great neighborhoods (up and coming) I lost equity on two where we bought on a busier street. So we took hits on the sale, though they were great rentals. As far as when, when you are ready, but if you feel held back identify is it the narrative about real estate or your means holding you back. Define one thing to take action on in the next week towards accomplishing your goal to buy. Whether that is identifying top 3 neighborhoods, driving homes, reviewing your budget etc. Have fun!

 Agreed. There may be PM models out there that are hospitality based that can drive up revenue, and possibly not be 25%+ for you. But ask around your area or look up properties on AirBnB to see who the hosts are. 

 Non-Q rates have been surprising me as well. Have to watch the pre-payment on those of course. 

Tricky with current interest rate environment, as a refinance makes no sense rn. Have you talked to your CPA or analyzed the impacts of it as a rental? (*Meaning reduction to your tax bracket, which may offset - cash flow). Is it in an area you are able to execute as a STR? Or rent by room? It is certainly an interesting position to be in.