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Updated almost 2 years ago, 03/01/2023
High W2 Income w/ 3 new rentals - What do I do?
Hi BP,
Over the past year me and my business partner built 3 new homes in the ATL area. My business partner works in real estate full time and I bring most of the money to the table through my high W2 income.
There are 3 properties (single family homes) that will be hitting the rental market for us in the next few weeks and I wanted to figure out a few financing options given our position. My goal is to try and get the lowest interest + principal payment right now so that we can refinance in 2-5 years once rates come down to a better level.
None of the properties are rented out right now but we've owned all for almost year as we were completely renovating & building additional units on the land. We work with Kiavi right now but find their long term rental products aren't as competitive as their short term loans.
Does anyone have any advice on using conventional lender for investment properties, packaging all the properties up together in a portfolio, etc? . All and any advice would be great!
Thanks you in advance for the help!