All Forum Posts by: Jonathan M.

@Account Closed Very true. But just like people simulation stock trade, would be cool to hear what people think! 

Thought this would be an interesting convo for 2019.

You have $1M this year. You can invest for appreciation and/or cash flow. Where do you put that money? Go! 

@Danny Webber Gotcha - just wanted to make sure these rates/terms were pretty much standard which it seems like now.

@Kevin Dougherty Yep, gonna have to run two different simulations but probably will go with the lender that requires less reserves and just bite the bullet with 25% down. 

Hey,

I'm currently looking to buy a 2-4 plex in Austin and shopping around lenders but running in to an issue. 

Lender 1: 5.375% - 30 year but needs 25% down because it's an investment ($5k reserves needed)

Lender 2: 5.375% - 30 year only 20% down needed but wants $20-30k in reserves

Issue is I really want to get 20% down AND have minimal reserve requirements so that I can buy something bigger. Should I keep shopping around other lenders for better rates/terms? 

Quick info about me: 

-740+ credit

-Own 2 other rentals that are break-even 

Thanks guys! 

@Lee Ripma Wow, that's pretty cool. Thanks for sharing! 

@Ali Boone Agreed, and thanks a ton for analyzing my numbers to make sure they were right. 

@Lee Ripma If you don't mind me asking, where did you get the info on forecasted growth for Austin? That's pretty sweet in itself. 

@Jeff C. @Ali Boone Yep, my mistake. I meant a house. You're right this doesn't take in to account the vacancy. Tax is in the numbers. I added in management in the numbers as well.

@Ali Boone hey! I just replied to Jeff with the numbers up above. 

@Jeff C. These numbers are straight from my realtor. There is no HOA as this is a house.

P&I: $811.67

Prop Taxes: $310.17

Mgmt: $128

Insurance: $60