Rental - Single Family Homes

[Brad Moore]

How do people typically finance their rental homes? I’ve owned a few rental homes but I’ve been doing 15 or 20 year commercial loans. It’s very hard to find a house priced well enough to cash flow with a 15 or 20 year loan. Is my financing my problem why I can’t create a better than break even cash flow?

[Brittany R.]

I bought my house in my name... conventional 30 year with 25% down, non-owner occupied. After, I closed, I reached out to my title company and changed the deed to my LLC. The mortgage company knows because I made sure to tell them before I changed it..and I added my LLC to my insurance as an additional insurer. I'm in contract to purchase my 2nd rental property...it will be with a conventional 30 year loan and with 25% down again, and non-owner occupied and in my name....I will have the deed changed to my LLC after closing again too. My mortgage broker said that if I get the loan originally in my LLC's name that the interest rate will be higher...I don't want that.