All Forum Posts by: Ryan Austin

@Jaysen Medhurst thank you for your input! It is definitely on my radar much more seriously than before. I have to keep digging and crunching numbers to see how it all adds up. I had been getting info on homes that were 20-35k and renting around $700/mo hence the desire for portfolio loan to be able to buy a bunch of them (if supply allows). But given the terms (and more leg work will yield additional options) I might have to look at what a higher dollar home might get me and go for higher quality over quantity.

Your thoughts?

Hi @Kelly Skeval thanks for the response! I have a list of 5-6 places to call now. A little extra leg work is hopefully going to add up to a lot of savings and added value to my plan!

@Soh Tanaka

It would diversify my risk in purchasing multiple properties in a portfolio as opposed to a single property. Seems like a smart thing to do at this point in time given uncertainty of job market for so many people.

Your thoughts?

Talked with local lender recommended by my broker. Preliminary chat he shared the following numbers:

30% down required

5-6% 7 year fixed then adjustable

Not sure if I should try sticking with initial plan of a portfolio loan (to diversify risk in multiple properties)

Or

Do conventional mortgage for 20% down and lower interest rate