All Forum Posts by: Eric Nickelson

Was in Stockton on monday. Met with realtor and briefly looked at about 7 houses - Many in bad areas. Thats about the extent of my experience in that area. Also considering Manteca, Lathrop.

Considering investing in SFRs in Stockton CA.

Would like anyone who is already in that market to give their opinion on:

areas to avoid, crime, rental market, investment clubs, specific properties, etc.

anyone used AimLoan for their financing? I just completed an online application. Trying to get financing for SFRs to use as rentals.

Nobody has specific suggestions? I talked with Bank of Texas, but in the end DTI was again the issue.

Recently I was unable to purchase a house ( for rental ) in the Dallas/Fort Worth area of Texas. Price was $85,000. I went through a couple mortgage brokers and a regional bank in California were I reside.
Debt to income ratio was the primary problem.

Here is some personal info:
I currently reside in california
I have 4 houses in Dallas/Fort Worth, all purchased in the last 18 months, all leased out.
FICO is 750
I can put down up to 25%

Anyone have specific banks they would suggest that would do portfolio lending for investment properties in Texas? I believe I dont meet FNMA guidelines for the loan being transfered.