All Forum Posts by: Raymond J. Rodrigues

@Rafael Ramos if you're looking to make some solid returns and open to short term rentals as you had mentioned, reach out to @Josh Green. He is an expert in the short-term rental space, is an investor himself, run's a STR property management company, and is also one of the best realtors that I know that can provide you with solid guidance when it comes to making investments in the Tampa area. He helps all of my clients.

@Neal Coppola the market is definitely slowing down in that area, much less S.W. FL. I saw my first short sale close by a few weeks ago! 

It could be for various reasons. If you took an FHA loan, you cannot refinance until after the 6th payment. Other reason could be a pre-payment penalty clause, or the lender does not want to inherit an early pay off.

@Brian Scott, you have the option of using a 5% down conventional multi family loan purchase for your next primary residence on up to 4 units. What rate do you have on your current FHA loan? It may not entirely make sense to go from a 30 year mortgage to 15 year mortgage if your debt to income ratio is tight in any sense. With all that being said, you can still pay a 30 year mortgage off in 15 years, not be tied behind a higher payment, and still keep your debt to income ratio fluid. Definitely something worth considering.

Our company has access to a 90% LTV cash out refinance loan for primary residences with no mortgage insurance. It's a niche product.

10% down second home loans still exist. They do not allow you to use potential rental income that will be received from the property via STR, to qualify, but will still allow you to purchase with low money down. Other option is 15% down as an investment property for single unit properties.

@Neel BS. I am local to the area. Always feel free to reach out. 

Hi @Tanner King, if you have funds to purchase, even if they are not in your checking account, there is no reason why that should stop you from getting pre-approved if you are willing to use those funds to help you purchase your home. There are a few possible programs out there for first time home-buyers that will assist with your down payment as well. Feel free to reach out to me with any questions. 

I'm seeing DSCR rates start in the low to mid 6's!

@Erin Attwood love the excitement and happy to hear your goals! You are in an awesome place to make your real estate investment goals happen. If you haven't already done so, connect with @Josh Green. He is your local real estate investor expert and realtor as well! I don't trust anyone in the area with my investment clients, but him!