All Forum Posts by: Chris Rodriguez

@Doug Smith Thank you for breaking down the ins-and-outs of DSCR loans. As I'm getting ready to get pre-qual'd for my first investment property, I have been trying to determine whether to go with a DSCR or a CONV 30 yr loan. I am looking to stay at or below $250K on a SFH. So far, I cannot tell the advantage of going the DSCR way. Other than the "expediency" factor, as a first time investor, they both seem to require 25% down, DSCR's interest rate is higher, and DSCRs seem to require the investor to have an LLC. Am I missing something? Why do people go chose to go DSCR vs CONV? Thank you in advance for your feedback.

@Alecia Loveless Thank you for taking the time to provide feedback and to share your expertise. Your info is helping me shape my investment strategy!

@Caroline Gerardo Good evening and thank you so much for your feedback. I appreciate your insight and I am thankful that you took time to answer my questions and share your experience.

@Bonnie Low Thank you for your feedback. I have pretty much ruled out condos, primarily because of the high condo fees (that sometimes can seem as high as principal + interest!). As I read everyone's responses, it seems that REIs will not rule out a townhome if it fits their strategy but prefer to go with SFHs. Gracias again!

@Kenny Smith I appreciate your feedback. Seems like most people I have engaged with seem to go for SFHs as their main strategy. Your insight regarding townhomes and condos not appreciating as fast as SFHs is also good to keep in mind. Gracias again.

@Trevor Schmitt Thank you so much for your feedback. Do you add your HOA fee to the rent (which pretty much makes the renters pay the HOA) or do you pay for it out of pocket?

@Basit Siddiqi Thank you for your feedback. @Account Closed said "...no one wins Monopoly by selling." That has stuck with me since I read it.

Hi friends!! I have talked with some local investors who say they do not do condos, only SFHs. When prompted for a reason I only get "it is not in my strategy." Totally understand, it's just that said answer doesn't tell me the reason why, meaning, what is or has been the drawback. I too am trying to develop my niche and my strategy: would you recommend SFHs over townhomes for a first time investor (buy and hold) ? Or do you put them in the same category (SFH)?. Also, do you add HOA fees to the rent your tenants pay? Thank you for your feedback.

@Adam Bartomeo

Thank you for taking the time to provide your feedback! Getting a property manager or managing company might be the solution.

@Eric Fernwood

Your feedback is pretty clear and much appreciated. Great advice. Gracias!