All Forum Posts by: Natasha Rooney

If you require financing, you will have to apply for a DSCR loan. DSCR stands for Debt Service Coverage Ratio, which is a calculation that determines if a loan's income covers its annual debt service.

As of today, the current average interest rate for a 30-year fixed mortgage in the US is 6.91%.

DSCR mortgage rates are typically anywhere between 1% and 2% higher than conventional loans.

Please feel free to reach out directly with any questions or concerns.

Hello! I am going to send you a message to get some more information :)

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Quote from @Melvin List:

@Natasha Rooney rates will also be different depending on if you have Credit or not. Happy to answer any questions you may have.

Sure! I'd love to get some more info about approximate rates that we would be dealing with :)

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Hello!

We are just looking into ALL the things before diving into purchasing an investment property and have a question for a mortgage broker or anyone who may know. We are planning to purchase in cash, however, if requiring financing, how much higher are mortgage rates for a Canadian investing in the US market?
What is the avg. mortgage rate right now for US vs Canadians investing in a US market?

I have been told it is about 3% higher in general for an out of country investor, is this true?

(I know it also depends on area so it won't be super exact, just looking for a ballpark!)

Thank you!

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@Jon K. Thank you! I did come across this book but haven't purchased it yet! Do you think the info is still relevant even though it was made in 2019? Thanks!

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Hello!

We are just getting started and trying to build a solid foundation before jumping in - hopefully in the new year. I know that SO many things will be learned about rehabbing a property during the first time we do it. However looking for resources about estimating rehab costs and knowing what is important and what is not. I know this is also area dependent regarding costs and what people are looking for in a place.

However, with all that aside, can anyone recommend any good books, YouTube channels, blogs, etc. about estimating rehab costs? Looking for something more recent. Most books I have seen were made pre-covid and I know lots of things have changed!

Thank you for your time!!

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Hello! New investor here and have been learning so much from reading all the posts on BP!

I am interested in learning more about different markets in Arizona (Phoenix, Tucson, and surrounding areas).

I know prices have been steadily increasing over the past few years. I also know Arizona is fairly investor 'friendly' and has fairly low property taxes.

Interested in purchasing small multifamily properties (2-8 units) depending on the property and numbers of course. Looking for decent cash flow or appreciation or both.

Thoughts on Arizona?

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Quote from @Marcondes Franco Da Silva:

Hi Natasha,

I am in Calgary and have been investing here in Alberta for about 5 years and I am, also, going south to expand my business.

Let me know if you would like to connect to chat about it.

I'd love to! I'll send you a DM.

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Quote from @Anthony Therrien-Bernard:

Quote from @Natasha Rooney:

Quote from @Jonathan Klemm:

What's up @Natasha Rooney! What market are you currently in, and why no interest?

The main thing I am looking for in a market is the right team! Someone is making good money in every market. I am a biased fan of Chicago, Illinois, because of the awesome real estate community here.

Outside of just a good community, I love Chicago because:

1. In the city, there is a plethora of old multi-family properties that need to be renovated at all different price points

2. In the south suburbs, there are tons of great single-family cosmetic flips

We do have winter, high taxes, and crime, but like anything else there is pros & cons to everything.

With the right team, you can be successful in any market...focus on networking and figure out where you might have a competitive advantage with some boots on the ground.

Hello, thanks for the comment on my post!
I have pretty much zero interest in the market I am currently in - its WILD haha Canadian housing has no potential to provide positive cash flow. I am currently in Calgary, AB and used to be located in Toronto - real estate in Canada is nuts.

Sounds good! Yes, I think a good team is crucial to being successful in any market and you're right - people are making money in every market. I think we may focus on somewhere in the midwest and plan to make trips out when purchasing and to meet people and network first.

Do you mainly do business in Chicago then?

I am not sure where you are looking but I live in Calgary and I've been finding cash-flowing properties for over 10 years

Really?! We are in Calgary as well haha I'd love to meet up and chat sometime over zoom or in person!

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Quote from @Jenn Richardson:

Quote from @Natasha Rooney:

Quote from @AJ Exner:

Quote from @Natasha Rooney:

Quote from @AJ Exner:

Hey Natasha,

It is a great place to start, plenty of inventory whether its for flipping, BRRR-ing, or holding at affordable prices while still having decent rents (with or without section 8)

With that, it is a pretty competitive market. I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.

From the lenders perspective, it can be kind of tricky because there are plenty of properties that cash flow well, but even fully-rehabbed they are less than 100k, which make them difficult to lend on. I am aware of a few options, but you would need to be aware before you get in too far to level with expectations.

Good luck!

Thanks for the insight!

I see that you are a lender - any input about getting financing as a cross-border investor? (I am Canadian)

Thanks!!

Do you have a credit score here in the US? Might have a few options for full leverage there, but if not, likely sitting at around 65% LTV on anything long-term/DSCR

No credit score in the US! haha I know it puts me at a disadvantage but I think its still workable.

You can get financing for american properties through most of the big 5 banks in Canada. They use your Canadian credit score to qualify you. Last time I borrowed it was min 20% down, I went with RBC USA bank. They also charged a decent interest rate at the time (2011) which was 3%.

Awesome, thanks!! I will look into that!

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Quote from @AJ Exner:

Quote from @Natasha Rooney:

Quote from @AJ Exner:

Hey Natasha,

It is a great place to start, plenty of inventory whether its for flipping, BRRR-ing, or holding at affordable prices while still having decent rents (with or without section 8)

With that, it is a pretty competitive market. I would make sure you have a good team ready to go and be ready to pounce whenever the opportunity presents itself.

Good luck!

Thanks for the insight!

I see that you are a lender - any input about getting financing as a cross-border investor? (I am Canadian)

Thanks!!

Do you have a credit score here in the US? Might have a few options for full leverage there, but if not, likely sitting at around 65% LTV on anything long-term/DSCR

No credit score in the US! haha I know it puts me at a disadvantage but I think its still workable.

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All Forum Posts by: Natasha Rooney

Natasha Rooney has started 11 posts and replied 43 times.

Post: Mortgage Rates as an Out of Country Investor

Post: Mortgage Rates as an Out of Country Investor

Post: Mortgage Rates as an Out of Country Investor

Post: Recommended Resources for Estimating Rehab Costs/Info on Rehab Costs

Post: Recommended Resources for Estimating Rehab Costs/Info on Rehab Costs

Post: Interested in learning more about markets in Arizona

Post: Starting Out - How to Narrow in on a Decent Market

Post: Starting Out - How to Narrow in on a Decent Market

Post: Thoughts on Alabama as an initial spot to invest?

Post: Thoughts on Alabama as an initial spot to invest?