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All Forum Posts by: Jonathan Soto

Jonathan Soto has started 7 posts and replied 583 times.

Post: Closed on my first rental property!

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

congratulations!!!!! keep up the good work and lead your family by example. you rock.

i will do single family home as these tend to appreciate faster than the condo. and price and hoa you could possibly be crushing cash flow if you decide to rent after moving out

Post: Buy or not

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

the hope for interest rate to drop for you can begin cash flow. think of other creative ways you can make the deal work. is this owner occupied or only investment?  

Post: Help with finding a heloc for investment property

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

if its a single family, i can help

Post: FHA Loan Rules

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

You can only have 1 fha loan unless the properties are more than 100 miles away. and since fha is owner occupied you would need motive to move that far. you can each get fha loan now if each of you qualify. you will each need to live in the property for the first year at least.

sounds like a similar situation from my wife and I. lets connect

Post: Can I use an FHA Loan for a Rental Property?

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

You would have to occupy the property for at least the first year. since you own a property you need motive that for the move and looks like closer to your job would be. it sounds doable, but lets connect to discuss

Post: Question on 203K Loan

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

would love to see if i can help with your journey. you arent able to do the work yourself, but your the other contractor can. lets connect

Post: Looking to invest in a 2nd property

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

congrats on making the first purchase and equity. you can definitely do that, depending what type of financing you do be careful with debt to income ratio. would love to connect to see if i can be of any help

connect with investors, add value. find wholesalers if you arent going to find off market deals on your own.

would love to help in any way i can

Post: DSCR lender recommendations?

Jonathan SotoPosted
  • Lender
  • Newark, NJ
  • Posts 599
  • Votes 239

lets connect, have done plenty of DSCR loans and i'm an investor as well