New to Real Estate · Member since 2021 · 58 posts · 26 votes
I just finished listening to the latest episode of the Real Estate Rookie Podcast w/ Grace! It got me thinking about how to best expand my position. I move into my first house-hack in two weeks and have 3 units (occupying one of them). With utilities and reserves account for, it will cost me $200-$400 a month while occupying, and cash flow $200-$400 when fully rented out.
Have any of you guys done 5/1 ARM loans on long-term multifamily rentals/buy-and-holds? Other commercial loans on long-term multifamily? What were the terms?
Are commercial loans a good way to circumvent DTI required by traditional lenders? What sort of down payments do they require?
I just finished listening to the latest episode of the Real Estate Rookie Podcast w/ Grace! It got me thinking about how to best expand my position. I move into my first house-hack in two weeks and have 3 units (occupying one of them). With utilities and reserves account for, it will cost me $200-$400 a month while occupying, and cash flow $200-$400 when fully rented out.
Have any of you guys done 5/1 ARM loans on long-term multifamily rentals/buy-and-holds? Other commercial loans on long-term multifamily? What were the terms?
Are commercial loans a good way to circumvent DTI required by traditional lenders? What sort of down payments do they require?
Your best bet may be to talk to your lender and ask them all of your questions. There can be huge variances between different lenders as far as the requirements go.