All Forum Posts by: Jonathan E Francois

Thanks @Jonathan Greene, Really appreciate it!

@Michelle Reshel I own several properties in Tulum and also manage a portfolio of vacation rentals there (my properties included). There are some great opportunities in Tulum. Also some risks. It's important to think carefully about (1) the type of property, (2) the developer, and (3) location. There's a lot of supply on the market so one really needs to stand out on Airbnb to be successful. A lot of competition. And certain properties work better than others. Hope this helps and happy to answer any specific questions you have!

@Jonathan E Francois when you get prequalified it is good for 4 months. I would suggest to get prequalified now.  That way you know the information that you will see later.  Maybe it will help with planning.  And to search for lenders, use that link I posted about above.  That will tell you everything, including what questions to ask your potential lenders.

Banks want to see that the property has been stabilized and rented for a period of time. I would go the DSCR route if they don't lend to the asset.

@Jonathan E Francois usually when you do the BRRRR method we suggest getting "prequalified" with your lenders beforehand. That way, you know if you need the property rented or not. You'll also know your LTV, interest rate, payment, etc. It just helps with the entire process. Maybe you can offer more since your prequalification numbers look a certain way? Or maybe you have to offer less on the property because the loan will do this or that. So getting prequalified is always suggested (and it's free to do).

Now, as far as finding a good lender I wrote an entire post on this topic that you can read HERE.  Feel free to post any other questions on it.  Thanks!