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All Forum Posts by: Grant Schroeder

Grant Schroeder has started 11 posts and replied 510 times.

Post: CREATIVE FINANCING - SECONDARY HOME OR INVESTMENT PROPERTY?

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

Thank you for the shoutout @Chris Davidson! @Flavia Pires we have a 10% down no MI investor loan for 1-4 units at Academy Mortgage that would work well potentially for your situation.

Post: Best markets surrounding Lake Michigan

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

@Julie Lin the Mt Hood area in Oregon or out in Sunriver/Bend, OR is great for an STR! I just had a client buy in the Mt Hood area in Jan 2023.

Post: short term rental

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

Thank you for sharing @Wendy Abraham!

Post: New investor in the Denver area

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

Thank you for the shoutout @Lawrence Potts! I appreciate you!

@Clark Thomas Tyrrell I would be glad to hop on a call early next week and discuss details with you if you'd like? Just let me know what works best for you!

Post: Is 10% enough?

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

Thank you for the shoutout @Chris Davidson! Appreciate you! @Connor Campbell I would be glad to hop on a call with you early next week if you'd like and talk through details of some of our creative financing options. Just let me know what works best for you!

Post: Drifters Escape Duplex STR Investment

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

Thank you for sharing @Kenzie Carlstrom!

Post: Qualifying for a second mortgage with a STR

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

@Derek Buehner many banks/CUs have overlays requiring 2 years tax return history for STRs, but if you work with a direct lender like Academy Mortgage, we can use just 1 year on tax returns for income qualification.

Post: Arcadia Vacation Rental!

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

Thank you for sharing @Phillip Raetz!

Post: Getting into RE Investing, Focus on Out of State Opportunities

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297

Thank you for the shoutout @Lawrence Potts! I would be glad to hop on a call and walk through details with you this week @Judd Meng if you'd like!

Post: I have money to purchase an investment property just not enough where I live. HELP!

Grant Schroeder
Pro Member
Posted
  • Lender
  • OR ID AZ CA WA CO NV TN
  • Posts 557
  • Votes 297
Quote from @Lawrence Potts:

Hey @Michael Benton, is there a way you can go outside of the Gilbert area and find something that can work in your price range? You can do some with $30,000, that's more than what I had when I first started. You only need 3.5% down using FHA on a multifamily 2-4 units. That or find a home that has an ADU (accessory dwelling unit). Some loan products for first time home buyers can offer as low as 0% down payment for SFR's. I recommend connecting with a lender if you haven't already, specifically a lender that has investment properties and has products to help people get started. If I were you, I'd use your VA loan! @Grant Schroeder can definitely chime in on this, he's helped a lot of investors in AZ find properties like what you are needing.

You could get started out of state, but if you have never owned your own home, it's a big learning curve. I bought my house and a few months later bought a couple houses in Louisiana and it was like drinking out of a fire house. I learned a lot from the experience but it was also pretty risky. I think going out of state is always a good idea if it makes sense for you right now. That's up for you to decide. Hope that helps! Keep us posted on what you decide and keep asking questions, we are all looking forward to answering them.

 @Michael Benton definitely best to start with a VA loan house hack. We have had several clients in the past 6 months use their VA loan for a house hack of 1-4 units and get all of their closing costs covered with seller credit so they are literally $0 out of pocket besides their inspection costs. I would be glad to hop on call and walk through details with you this week if you would like. Let me know what works best for you!