All Forum Posts by: Jamie Jones

 @Michelle Gorham Murfreesboro is a great rental market! There is strong growth with the proximity to Nashville but a little easier to make the numbers work. I see you are in the Pacific Northwest - what made you choose M'boro? I am local lender in the area and also own a few LTR's in the Boro. If you'd like a connection to an investor friendly agent in the area, please feel free to pm me. I have used him on several transactions and he's great and is also very involved in the local meetups in the area if you are looking off-market. 

Hi Padraic! There are plenty of Nashville investors on here, both local and out-of-state. 

@Christopher Booth Hi Chris, I am a local mortgage advisor with Pinnacle here in Nashville. Can you let me know what kind of property you have in mind? Feel free to pm me if you'd like. Happy to help or refer you to someone who can. 

Like others have stated, it really comes to what kind of financing you are looking for. In many cases, it may actually be a more streamlined process when obtaining financing if you are getting a conventional mortgage. If you are getting some form of commercial or portfolio loan, then it will really be lender specific. Most depository banks would rather have their clients have liquid assets compared to real estate, which they deem as illiquid, with the hopes that they can eventually get those deposits/investments under their own management. I work for a bank and we would be way more likely to make an exception to a borrower who has $1m+ in liquid assets compared to someone with $5m+ in RE holdings. Hope that helps! 

Hi Anthony! Sounds like a great idea. I'm a pretty big believer in the Nashville housing market as a whole when it comes to appreciation. If you are looking to eventually transition into STR, then the closer to downtown you can be, the better (obviously depends on your price point). North Nashville and North Charlotte are both areas that could see good appreciation in the years to come. Please let me know if I can help with anything on the financing side, I am local lender and investor.

Hi @Bret M. I am not in Ohio but am a lender and investor. I am happy to help answer any questions you may have. 

Hey Luka,

What kind of mortgage does he have on the property? And does he have the cash or other liquid assets to buy out the spouse's equity portion without needing to do a cash out refinance? 

Hi @Faustin Hoover, it is a very common practice for realtors to refer their clients to a specific lender. It's best to think of your realtor and lender as partners, as they both need each other. The realtor cannot get paid until you can close on a loan, so it would be in their best interest to work with a lender they know, like, and trust to get the job done. Therefore, the realtor has a vested interest in making sure you work with a lender who is knowledgeable and able to serve you. If you don't trust your realtor to help find you a lender, then it may be time to ask if you trust them enough to represent you with a huge financial purchase such as a property. 

Hi @Eric Hipolito, have you talked to a lender who told you need to wait 2 years at your W-2 job? Unless you are using commission, bonus, or have variable income to qualify, you should not need to wait 2 years for conventional financing, which will have lower rates and less down payment required than DSCR (assuming you plan to house hack). Also, just two days ago Fannie Mae made it possible to buy a 2-4 unit property as a primary residence with just 5% down. I'd recommend talking to a couple different lenders and providing them with all your income documentation to see if you can qualify now without waiting the full 2 years.

Hi @Christi Caden, are you looking for a job working with a real estate brokerage or mortgage team? Or something completely different?