All Forum Posts by: Timothy Hero

I can only speak on what I've seen with my clients; possibly the management company. They are known to be not responsive. What if you think it's 3 inquiries, but you've had 20, and they just don't answer the phone or response to emails? It wouldn't be the first time.

 yeah

Being a mortgage broker, I'm sure my opinion may seem bias, but I suppose it depends on your goals. If you want to scale, you'll need to use leverage.

I've seen many investors brag about their cash deals by saying things like "I make more per month than those with loans." Yeah, on that property.

$1M in cash buys you $1M in property.

$1M in cash and financing with 20-25% down buys you $3.5 - $4M in property.

Who do you think will have a higher net worth in 5 years?

There's a reason why even the wealthiest people in the world still finance.

I have one. Typically 25% down, 30-year amortization, on a 10-year term.

Tougher market these days, but they're out there.

Those terms are horrible. I just quoted 6.5% with 1 pt lol.

I always use ZenBusiness. Few hundred bucks and they'll handle everything for you and you'll receive the entity docs in 5 days or so.

I think this is a marketing post, lol. Anyone who replies "yes", expect a private message lol.

I quote deals across the country for DSCR. What I find is, markets where you can still find single family homes for $200k or less is where the cash flow is (percentage-wise).

Once you get to the $250k homes, especially with rates where they are, you start to get very little cash flow.

Ohio is consistently strong on cash flow.

Need more details. I've brokered 300 DSCR loans and I'll tell borrowers to expect closing costs to be 2-3% of the loan amount. However, loans under $200k, it's closer to 3-4%, and loans under $125k, expect around 5%.

Lenders typically have flat fees (UW, legal, etc). Simple math: the lower the loan, the higher percentage of closing.

Those $1M loans are usually 1% closing costs, for example.

What's the dp needed for the loan? Typically speaking, 20-25% down would require at least $2.6 million for the down payment + closing costs and reserves.