All Forum Posts by: Ryan Thomson
Ryan Thomson has started 135 posts and replied 1464 times.
Post: 12k Down for a 3.8% rate. (NOT SUB TO) - Fully legal assumption for Investors
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
Quote from @Jordan Ray:
Quote from @Ryan Thomson:
Quote from @Jordan Ray:
Quote from @Ryan Thomson:
I'm surprised this isn't being talked about more in the BP forums. VA loans are assumable by investors! When the seller is willing to let their entitlement stay with the house anyone can assume their mortgage. This opens up a lot of opportunities for the seller to get their home sold quickly and maybe for a premium. Has anyone else done deals like this? I closed a couple last year and would love to connect with more people doing this!
This property is one of the best deals I've found and I'm looking for a buyer. The down payment is only 12k and the interest rate is 3.8%. It will cashflow. But more importantly than that you are paying 10k off in principal the first year of assumption on a 12k investment!
I have a list of about 48 properties that are currently assumable by investors. I am a real estate agent and trying to represent buyers who want to purchase these properties. I would love to connect with people who....
- are serious about investing in real estate. Who understand the benefits of loan paydown and appreciation.
- Who want a good return on their money (think 20%+ IRR) and aren't overly focused on cashflow.
- can qualify for a rental property (since this is a fully legal assumption the bank is involved the whole time and you have to qualify. But luckily the payments are so low with rates in the 2s and 3s that its not that hard to qualify.
Reach out if you would like to learn more about how this works. Let's see if we can get you a rental property for less than 20% down and with rates in the 2s and 3s!
This works if you plan to live in the property and move out then rent it out after 1 year (Rinse & Repeat). I am pretty sure your buyer wouldn't qualify if he plans to never live in the property at all. Hope this helps!
That's actually not true! I know it's crazy. But it can be assumed by an investor who never has to move in. I closed 7 like this last quarter.
How did you manage that? Mortgage fraud?
Nope! It's fully legal. Call the VA and ask them.
Post: 12k Down for a 3.8% rate. (NOT SUB TO) - Fully legal assumption for Investors
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
Quote from @Jordan Ray:
Quote from @Ryan Thomson:
I'm surprised this isn't being talked about more in the BP forums. VA loans are assumable by investors! When the seller is willing to let their entitlement stay with the house anyone can assume their mortgage. This opens up a lot of opportunities for the seller to get their home sold quickly and maybe for a premium. Has anyone else done deals like this? I closed a couple last year and would love to connect with more people doing this!
This property is one of the best deals I've found and I'm looking for a buyer. The down payment is only 12k and the interest rate is 3.8%. It will cashflow. But more importantly than that you are paying 10k off in principal the first year of assumption on a 12k investment!
I have a list of about 48 properties that are currently assumable by investors. I am a real estate agent and trying to represent buyers who want to purchase these properties. I would love to connect with people who....
- are serious about investing in real estate. Who understand the benefits of loan paydown and appreciation.
- Who want a good return on their money (think 20%+ IRR) and aren't overly focused on cashflow.
- can qualify for a rental property (since this is a fully legal assumption the bank is involved the whole time and you have to qualify. But luckily the payments are so low with rates in the 2s and 3s that its not that hard to qualify.
Reach out if you would like to learn more about how this works. Let's see if we can get you a rental property for less than 20% down and with rates in the 2s and 3s!
This works if you plan to live in the property and move out then rent it out after 1 year (Rinse & Repeat). I am pretty sure your buyer wouldn't qualify if he plans to never live in the property at all. Hope this helps!
That's actually not true! I know it's crazy. But it can be assumed by an investor who never has to move in. I closed 7 like this last quarter.
Post: 12k Down for a 3.8% rate. (NOT SUB TO) - Fully legal assumption for Investors
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
Post: How to best market my Assumable VA Loan
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
@Sara Ring I have a couple sites that help advertise these. Shoot me a DM and I'll get you their info.
Post: 3.75% interest rate on second property even though rates were at 8% at the time!
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
@Dan Flannery nice! This is the best way to buy real estate right now. Low down payment loans on an investment property (even more leverage) and a killer rate. Congrats!!
Post: 3.75% interest rate on second property even though rates were at 8% at the time!
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
@Dan Flannery nice work man! Are you looking to buy anymore. I have several in Colorado that would work this way!
Post: Are Low/No Money Down Real Estate Deals Actually Viable?
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
@Ken Almira I had several investor clients close on properties last year with assumable mortgages (not sub-to!).
One put 19k down to get a 2.7% rate.
One put 0k down to get a 4.9%
One put 50k down to get a 2.5% rate.
This is a great way to get started and if you are creative you can certainly get a good deal with low down!
Post: 🏡 For Sale: Assumable FHA Loan 30 year at 3.25% – Save Thousands! ROCKY RIVER, OH!
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
If I was looking for a house hack in OH I'd be all over this! @Jim Jones . You can't assume an FHA property as an investor though.
Post: Assumable Mortgages: Any ways to do creative financing?
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
Hi @Dillan Gomez I have closed 7 deals like this in the last 5 months with buyers in Colorado.
I do have a lender who will loan on the equity gap.
1. For an investor you need to put 20% of the purchase price down and they will loan the rest
2. For a primary home loan you need to put 5% of the purchase price down (10% down gets you a better rate) and they will loan the rest.
This is a great way to buy investment or primary properties!
Post: Assume Seller VA + Secondary Financing for Knoxville, TN Home
#1 House Hacking ContributorPosted - Real Estate Agent
- Colorado Springs, CO
- Posts 1,498
- Votes 1,346
Hi @Kelly Williams I have closed 7 deals like this in the last 5 months with buyers in Colorado.
I do have a lender who will loan on the equity gap.
1. For an investor you need to put 20% of the purchase price down and they will loan the rest
2. For a primary home loan you need to put 5% of the purchase price down (10% down gets you a better rate) and they will loan the rest.
This is a great way to buy investment properties!