All Forum Posts by: James Harrington

Hello BP,

I am purchasing a home as an investment property as a new construction. I am getting my loan through the builder (Pulte). They informed me I have to purchase a minimum of three mortgage points. Is that normal?  Everywhere I have read says points are optional.

Also my rate as of Sep 2021 is 3.625% with 3 points - seems awfully high in this market. Thoughts?

*I plan on flipping the house in a year, so preferably would not want any points.

I am closing on a new construction property using the builder's lender. They told me they are unable to close with the title in an LLC, but said I would probably be able to transfer after closing. The property will be classified as an investment property.

Has anyone had experience with closing on a property under your personal name and later transferring to an LLC? What is this process like?

FYI I am investing with one other partner.

I am looking at a few SFH to rent out in Jacksonville, FL (specifically mandarin/Julington creek) that do not have a garage. Do renters/home buyers have a strong desire to have attached garages?

Is rental price significantly affected with no garage/ harder to sell when exiting? 

I am a Jacksonville, FL native but new to REI. I am considering buying a rental property in St Johns county due to the growing population, more reliable tenants, newer homes, etc. even though margins are a little lower.

I have also considered new construction homes (roughly same price as other homes on the market, and it will be brand new so it will have minimal/no repairs and can charge on the upper end for rent?)

Would appreciate any thoughts or advice on investing in Jax.