All Forum Posts by: Nick Macklin

I have a few in 32208 and I am acquiring another one next week. I like the area and think it's one of the better rental markets in Jax.  

good luck on the REI adventure and good luck on this acquisition :-)

The only non owner occupied loan I've heard about that's less than 20% is the FNMA homestyle loan. That one is 15% down, and even then you may be finding that you have to educate your lender on the program. Not saying there aren't better low money down conforming programs out there though!  Just none that I've heard of at 10%. Keep us posted if you find one!

Congrats on the big year!

Mark Pomerantz of David Pomerantz and Associates.  He's very knowledgeable and also kinda cracks me up 😂

David Pomerantz & Associates(

301) 870-4452

https://maps.app.goo.gl/xj8HNViXR4Vt39VU7

I do all my transactions through McKillop Law Firm or Mason Title.  McKillop is better if you need lawyer services.  Mason doesn't have layers on site but has a team of settlement agents that has done the trick for every transaction I've brought them. 

i sent a connection request. DM me and I'd love to help. 

Mark Pomerantz is savvy. He's the owner of David Pomerantz & Associates (took it over for his father). He is as stereotypical as you can get as far as CPAs go but he's passionate and knows his stuff plus he is in Waldorf so depending on where you are he is pretty local. 

Although I would not have worded the initial post in such a way I can understand your sentiment. If an investor wants to scale there is no need to be exclusive with an agent. And an agent shouldn't expect that from investors. 

i work with many agents in markets I'm not local to and we all have an understanding that I go with the agents that first bring me the deal. Integrity should be a part of everyone's business and if it's not then both parties will see that quickly and can stop working together. 

In short, I see both sides but there is a way to create a symbiotic relationship with many agents as long as all parties have integrity. 

Good luck on the hunt and may the rest of the journey be a prosperous one!

Origination fees rose significantly on qualified non-owners occupied mortgages about 6 months or so ago. 2-3% is normal now as opposed to 1% or less before that. Doesn't seem out of the realm of possibility but definitely seems like it's on the higher end. I'd recommend reaching out to multiple lenders. 

I haven't ever heard of anyone doing more than the cages. It's also much less likely to happen if the property isn't vacant. Unfortunately this is just one of those unfortunate, unforseen expenses but I hope someone else has a better answer for you. Best of luck with everything moving forward!

Traditional banks are garbage right now with rates and points for non-owners occupied properties. Many private lenders have competitive rates and points while not actually showing on your credit.  Timothy Hero (find him on BP) is a good broker but you can also find them directly.  He's been sending me Visio products and they seem legit.