All Forum Posts by: Jason Wray

Israel,

Feel free to reach out I would be glad to help if possible. 

I cannot advertise in this section but the program does exist. If you want send me an email or check out my profile. This was not meant to be an advertisement it was about spreading the news that these programs do exist. To another point/question from @John Underwood This program does carry a higher rate but there is "No-Prepay" so you can refinance in less than 6 months if there is any equity or you are doing renovations to use the ARV to immediately drop the rate at a lower LTV.

When you refinance there are no "points" when using a traditional refinance like Fannie or Freddie. So there is a cost up front but your higher rate is associated with the "Less Money Down". So you save your money up front or do not need as much up front and in as little as 6 months or when the LTV is at 85% or less you can do a "Rate and term" refinance and lower the rate.

The higher rate is only carried for a short period so essentially you are not paying too much prior to the refinance.  This is a loophole style approach to buying and using the banks/programs to help reduce the upfront costs and out of pocket money.  

The refinance is the important part so you need to either have "Walk in equity" or doing renovations or repairs to get the ARV or ensure the LTV will be in a 85% LTV or less in shoter period of time to refinance. In many states equity is soaring with sales so it could be quick with just a standard increase in market sales.

This is some what similar to using an FHA loan and then refinancing into a conventional loan to remove MIP/PMI and lower the rate with a 85% LTV or less.

Anthony, 

Feel free to reach out I can walk you through evaluating the sale price, checking rents, ARV potential, if you need to run the numbers we can look at the options on DP and where it cash flows best. Always best to look at comps in the area as well.

Andrew,

I get to see almost every market in the US including Hawaii as a Banker. Texas has some good opportunities and also has some over saturated markets. Tennessee is a different scenario its been a very hot market in the last 3 years with some hard to beat REI deals.

I have a lot of investors that buy in TN all over the state and just closed on a home in Knoxville. My customer purchased a 3 Bed 2 BTH home on 3 acres for only $239K and the best art is the annual taxes are only $540 a year total! A lot of counties have very low annual taxes and that's a good thing for cash flow or DTI.

My advice is look hard into TN and if you plan on building an REI portfolio stick to states like TN, IN, OH, FL, NV, (Parts of Texas) and GA. Most of these states you can still find a Duplex for example under $200K with good cash flow. If you ever have any questions feel free to reach out or check out my profile.

I enjoy helping other BP members find success and avoid lost time and money!

The 5% Down is a Second Home/Vacation home loan which is great to buy as a vacation home and still rent it out to help cover the mortgage. You can always transition this into a full time investment in 6-12 months if the equity is atleast 90% LTV. This loan is for Single family homes, condo's or Townhomes. No prepayment penalty so its a bit easier to transition.

Larry,

Reach out to @Lucia Rushton great agent to call to find cash flow properties in DFW.

William,

On a vacation Home you only need to put 5% Down and you can refinance in 12 months to transition into a full time investment, take cash out if possible or just lower rate using the equity to buy it down.  

If you ever have any questions feel free to reach out check out my profile and send me an email with any questions or concerns!

Victoria,

Welcome to the BP forum and community, it's great to see more real estate investors joining. Questions are always welcome and this is where you will find the answers from seasoned investors, agents, bankers, attorneys and more. It's good to see your focus is geared towards the appreciation considering its the biggest reward in most cases.

Buying a property with "walk in equity" or planned renovations is key to put you a head of the curve in regard to an earlier ARV. The equity controls the future of the property in terms of (LTV) loan to value, lower rates, cash out if needed for other down payments and more. As mortgage rates trend down it's nice to have equity t tap into if needed to avoid using your own liquid reserves.

Keep your money invested and gaining you interest while using the banks money to buy REI with a small portion of your funds for the down payments. If you ever have any questions feel free to reach out via email or direct contact. I have over 20 years in both the Banking and REI world and enjoy helping investors learn loopholes, and avoid lost time and money!

Jacob,

Any time you want to talk REI feel free to reach out I can offer some help in regard to the initial process and what to look out for in terms of property type, occupancy type, cash flow, ARV, financing, etc. It's easier to have a conversation with people who have been in the REI and finance world to help get a grasp on what to do first and what to avoid.

This business offers a lucrative pathway to retirement and passive income.  Just want to adopt a preventive maintenance thought process to help analyze deals in advance.  Like I said feel free to reach out via email or message me I am always happy to help other BP members avoid pitfalls and teach the hard to find loopholes and tips.

Jared,

It's always smart to expand your network and build a strong team. Be great to have a quick chat sometime and in the meantime feel free to add me to your Network. I am an investor as well as a long time Banker. If you ever have any questions I am always happy to help and talk REI and share all of the loopholes and tips I have learned over the years.

There are also a ton of new programs that came out for 2025 that are helping more investors build their REI portfolio with less money down and better rate/terms. Based on the current market looks like mortgage rates will slowly keep trending down and making it more attractive to continue to buy more properties and tap into the current properties to pull out cash and use for the next REI down payments.

Again feel free to rech out via email or message me and add me to your network!