All Forum Posts by: Aaron Kovac

@Michael Lewis Lee

Thanks Michael! I suppose Googling these turnkey companies is easiest, but is there any other recommended place you suggest looking for solid turnkey companies?

@Jordan Moorhead

I do own currently. I just bought a SFH in an Austin suburb in July... before learning what house hacking entails. Otherwise, I probably would have looked into something along those lines.

Thanks for the input!

@Joe Villeneuve

Joe, thank you for the thought provoking feedback. I appreciate the insight and will definitely take that into consideration moving forward!

Hi All,

I live in the greater Austin area and am gathering information to eventually jump into investing. My dilemma is that I read a lot about people saying to understand your local market. I am a lender in Austin, dealing with primarily SFH's.

Austin is extremely competitive in SFH and even more so in the multi family space. My preference would be investing in multi family homes, but given the above- would it make more sense to look outside the Austin market and go for multi family homes or start in the Austin area with SFH's?

Thanks in advance!

@Mary St.Clair

I think your questions have already been answered. But 100% you can get financing as an investment property that you will not occupy. You just have to understand that the interest rate will have a premium and there may be other underwriting requirements such as down payment that you will need to keep in mind. Typically, putting at least 25% down will yield you the best rate on an investment while limiting your reserve requirements. Talk to a local lender to get a better idea of what those requirements will be.

Good luck!

@Michael Ealy

Great, I will be on the lookout!

To answer your question, I think it’s fate to say we definitely expect to see this little refinance boom dissipate with less refi applications. But I think purchases will still happen regardless. Austin is a bit of an outlier in that regard, as the area continues to grow on the backs of the tech industry here. There is definitely an urgency right now with rates being so low.

Make hay while the sun shines!

@Michael Ealy

#1 without the bad credit!

I just bought my first home. Primary, single family home in a suburb of Austin.

My knowledge is basic on multi family investing, but I am a mortgage loan originator with 2 years experience now. I’m not worried about the underwriting involved, but my main concern is funds due to my recent purchase.

I’ve heard and read of various ways people can be creative with financing or partnering up, but I think it’s just information overload and my brain being stuck on Fannie/Freddie deals I normally do at work.

I would like to see #1 answered, but with AND without bad credit!

Where can I find your videos when you post them?

@Chris Szepessy

Happy to help!

@Chris Szepessy

More than likely we would also. It may not show on your credit report but I'm guessing the REO's are on your tax returns, yes? If so, they're going to know and then calculate it into DTI.

@Sam Stabler

I can only speak for the products I specifically offer at said big bank, but we will do a fully amortized payment as when you make payments, they goes towards principle and interest.

Regarding your question, home equity lines of credit aren’t bought by Fannie/Freddie. But a cash our refinance would fall under that situation and maximum debt to income is 50%, payments on most conventional loans are towards principle and interest as well. Though you might be able to find an interest only lender out there somewhere.