Hi, just to let you know, in Puerto Rico there are almost no financial products for locals to invest in properties since they denied or ignore you. Only 3 banks operating and few local credit unions. The majority of the investors are cash sale transactions from the states. I don’t find a hard money lender, vacation Home loan or seller financing.
Truly awesome and not commonly known information. Looking forward to putting knowledge into action especially without a standard W-2. Thank you guys! Teresa
@priestesslucy3299 Scaling up from 4-10 properties is challenging and planning is the key to success. Zack is asking for a show that goes into detail explaining the best practices and strategies. Does that make sense?
At 9:32 you mention 10% down on an str strategy loan but not via a vacation loan. Can you clarify what loan product that is.thats exactly what I need to scale faster.
The only option at 10% down is the vacation home loan and it is a personal use loan, not an investment property loan. Fannie Mae requires you to use it for some portion of the year for personal use and it cannot be used for long term rentals and there are no specific restrictions on short or mid term renting it while you are not using it for personal use. Freddie Mac, on the other hand, limits the max allowed rental days to 180 days. The 15% down option is the true investment property loan that allows us to scale faster because we are able to use the forecasted rent to qualify and it has a much smaller impact on our buying power (DTI). Typically the 15% down option will double your buying power compared to the 10% down option.
I'm curious why so many investors struggle to come up with the 15-25% down for conventional investment property loans. Are they just starting out? Are they seasoned investors but are running on razor thin margins with their existing properties? Are they holding properties with healthy cash flow but just want additional leverage so they can scale more quickly?
@chriswhynder8311 I understand the difficulty when you're just starting out and only have a few properties but what about the investors who have been doing it for several years? Creative financing options are helpful in the beginning but, if real estate investing is so profitable, shouldn't it be unnecessary for seasoned investors?
Dave puts out the best and most informative content in the BP world, hands down.
He sure does! 😀
Hi, just to let you know, in Puerto Rico there are almost no financial products for locals to invest in properties since they denied or ignore you. Only 3 banks operating and few local credit unions. The majority of the investors are cash sale transactions from the states. I don’t find a hard money lender, vacation Home loan or seller financing.
Truly awesome and not commonly known information. Looking forward to putting knowledge into action especially without a standard W-2. Thank you guys! Teresa
@tz1731 You're welcome and glad you enjoyed it! 😀
This video is just what I needed!
Wow! Thank you for all this info! Very useful to scale!
You're welcome and glad you enjoyed it! 😀
Great video. Getting creative is one of the best things you can do as an investor. It pays off when you get creative.
Thanks and it sure is!
Can we get the loan guys information
Other loan guy checking in. Where are you located?
My website and contact info is in the show notes and I'm looking forward to connecting!
Love this. There is a wealth of information here.
Great great information. Thank you
You're welcome and glad you enjoyed it!
Great Info!
Can we get a show that focuses just on properties 4-10?
Great idea!
4-10?
@priestesslucy3299 Scaling up from 4-10 properties is challenging and planning is the key to success. Zack is asking for a show that goes into detail explaining the best practices and strategies. Does that make sense?
@@jeffthemortgageexpert it does, thanks
My Schedule E loses a shit ton. Write offs. Bonus depreciated a bunch as well.
At 9:32 you mention 10% down on an str strategy loan but not via a vacation loan. Can you clarify what loan product that is.thats exactly what I need to scale faster.
The only option at 10% down is the vacation home loan and it is a personal use loan, not an investment property loan. Fannie Mae requires you to use it for some portion of the year for personal use and it cannot be used for long term rentals and there are no specific restrictions on short or mid term renting it while you are not using it for personal use. Freddie Mac, on the other hand, limits the max allowed rental days to 180 days.
The 15% down option is the true investment property loan that allows us to scale faster because we are able to use the forecasted rent to qualify and it has a much smaller impact on our buying power (DTI). Typically the 15% down option will double your buying power compared to the 10% down option.
Hi is this loan international as well?
Please share what brokerage are doing this loans thank you!!
We are and my contact info is in the show notes! Reach out if you have questions!
Surprisingly, many lenders don't know about the forecasting rental income to qualify for the purchase. Seems like they are new to the industry.
Thank you
You're welcome!
I'm curious why so many investors struggle to come up with the 15-25% down for conventional investment property loans.
Are they just starting out?
Are they seasoned investors but are running on razor thin margins with their existing properties?
Are they holding properties with healthy cash flow but just want additional leverage so they can scale more quickly?
its not easy when you only have a few property's
@chriswhynder8311 I understand the difficulty when you're just starting out and only have a few properties but what about the investors who have been doing it for several years?
Creative financing options are helpful in the beginning but, if real estate investing is so profitable, shouldn't it be unnecessary for seasoned investors?
They lend in 49 states except New York State. I was a call away 😣
Can I get a assest loan if I have large sum of moeny in mutual fond account?
Debt to income?
Crazy! This whole time i thought DTI stood for down to intercourse...
@@lawnbear5958 😂
I’ve been listening to dave for more than almost 10 years. He seems like he’s lost a lot of weight. Anybody know if he’s ok ?
@jeffthemortgageexpert thanks for this valuable information ℹ️ it’s interesting to learn about the different types of funding opportunities!
You're welcome and glad you enjoyed it!