All Forum Posts by: Austin Clarence

Hi!! My husband and I bought an investment property in 2021 for short term rental in dallas area using host financial (dscr loan). The taxes are really hurting our cash flow bc they have no appreciation cap. Essentially they nearly doubled since purchase. We are thinking of refinancing later this year after paying it down further, claiming homestead (need to move in before Jan 1, 2025) /selling to ourself for original amount to get the tax value down and moving into it. We have been stuck since purchasing it, as my mortgage broker said I don't qualify for a regular mortgage due to the debt to income ratio impact. That said are my hands tied on buying another rental property until I refinance this house into my personal name? Currently our rental property is in an LLC but personally guaranteed by me. Any advice for buying a personal home while building investment portfolio? I found an investment property I really want to buy.. Thanks in advance for any tips!

I'm planning on making an offer on a condo-hotel in Vegas. This will be my primary residence (at least for awhile) and might become a rental/hotel unit later. This isn't my part of my investment portfolio so I'm not expecting to cashflow. Anyhow....

I'm told that I can't get conventional financing and would be required get a DSCR loan, put 30% down at have a rate of 8-10%. Does this sound right?

I anticipated maybe a 20% downpayment and a loan rate a bit over conventional financing?

The property is in Neveda, I'd be happy to get recommdations for another mortgage broker. 

Thanks!

What kind of rates are you seeing in your market for investment property purchases?

I'm being quoted 8-8.5% in Iowa. That's for 25% down SFH purchase with an established track record.

Are there better rates nationwide or is that about as good as it gets?

I have an investment property in Atlanta with a DCSR loan, does anyone have information on any bank or lender that offers HELOC for investment properties. Thanks in advance

I picked up a house in Sep. for 577k with an ARV of 800-810k.
I took hard money, note of 522k.
Paid for the down and renovations out of my pocket ~57k+130k. 

Selling will make a little money, but it’s not a ton. The house is great, great location and we remodeled it a little nicer than we originally planned given the strength of the location. 

We’re considering refinancing instead and putting renters in for at least a year. 

I’ve talked to a couple mortgage folks and haven’t gotten any great options yet. 

Anyone doing 80-90% cash out on investment properties? Maybe even IO products?  
Thoughts / Suggestions?

Hello All,

I have been looking into DSCR loans and while they seem enticing the 20% down is a bit of a hurdle. Does anyone know if the DSCR can be combined with a 80/10/10 loan to bring down the cost of the 20% or are they two separate things?