All Forum Posts by: Benjamin Boynton

@Melvin List, I’m still on the hunt for a lender if you know anyone who may be interested.

75% would work for me!

Yes, these were both handled by a title company. The 50% owner occupied is what a particular mortgage broker told me is a typical guideline. Not sure how much truth there is to that.

“A non-warrantable condo is a condominium property in which the loan is not eligible to be sold to Freddie Mac or Fannie Mae“

From what I understand, it’s a condition where more than 50% of the complex is not owner occupied.

I have 2 condos as long term investments in the Orlando area, each worth about $75k. Does anyone have any advice on how to do a cash out refinance on non warrantable condos at such a small value? We are looking to continue investing with the cash out but can’t seem to find a lender in central Florida that is willing to work within these restriction.

Thank you all for your kind welcome!

@Charlie MacPherson Thank you for the invite. I'll keep my eye on the group calendar. I am looking to buy and hold 1-4 unit rentals for cash flow. However, the deals I've run the numbers on thus far have not been favorable. 

@Share Ross My last name is Boynton but unfortunately i live in a place much colder. I am however looking to primarily invest in Florida Real Estate!

Thanks @Rob L.. Was your Condo located in Massachusetts? What strategies do you employ now?

Thank you @Mike Hurney,  I will definitely keep an open mind

Hi all, new member here from Easton, MA. My father-in-law has invested in Orlando condos (currently at 8) to fund his retirement but rather than following blindly in his footsteps I wanted to educate myself before making my first investment. I'm not completely sold on the condo investments due to the low cash flow after HOAs. 

I'm very excited to join the Bigger Pockets community and learn from all the resources available!