All Forum Posts by: Kyle Deutschmann

Property values are near records highs and interest rates are near 50 year lows! Now is the PERFECT time to cash out refinance before property values drop in the looming recession. If property values drop that means your equity disappears so no cash out refi for you and your home equity line of credit will likely close... 

We offer Conventional, FHA, VA, Jumbo, Bank Statement Programs, portfolio programs down to 500 credit score, and low-doc Investor loans where no DTI is calculated and the property can be in personal name or an LLC. Fixed or adjustable rates available (would recommend fixed). Send me an email or call me with your situation, and I will get back to you within 1 business day with a no obligation quote. [email protected] - 615-224-6524

I represent one of LendingTree's top lender's nationally with a 97% customer recommendation rating.

Kyle Deutschmann

Mortgage Analyst/Home Lending Advisor

NMLS 1815618

Licensed in AZ, CO, MD, MN, NC, SC, TN & VA

Reliance First Capital, LLC (NMLS 58775)

Facebook.com/MoneyMannKyle

Reliancefirstcapital.com/profiles/kdeutschmann.html

Hey Maurice, 

I wouldn't hesitate to hop on a good deal as long as it can cash flow well. Baltimore is known to be a cash flow market (i.e. most investors I know buy there for the cash flow not the appreciation) so if you plan on investing in Baltimore for cash flow it shouldn't matter too much what the price is as long as you're in the green after accounting for all potential expenses (including irregular expenses such as maintenance/repairs/vacancy).

It's also a great time to buy in terms of interest rates being super low which will help improve cash flow as well. 

Best of luck on your first investment property!

@Oriane Brice I dont know Jackson too well, but if youre willing to live outside a major city you could potentially use a 0% down USDA loan if its in an eligible area, which would be a great way to buy a single family house hack. Nashville is definitely pricier than it used to be, but there are still signs that it will continue to grow. Large companies like Amazon are moving in downtown and the local economy is very strong (just named the second best job market in the US). Would be happy to chat sometime further about my experience house hacking here if youre interested.

@Oriane Brice hey Oriane, TN has many great places you can house hack, really just depends where you want to live. I house hacked in Nashville for about a year and a half, which has been booming for the last 10 years, but Id be willing to bet you could make a house-hack work in Memphis, Chattanooga, Knoxville, etc.

TN as a whole has grown a lot due to lower cost of living (lower property tax, no state income tax, cheaper real estate in comparison) compared to most cities on both the east and west coast, as well as a strong, diversified economy, good weather, etc. Only thing is Nashville is pretty competitive (as are most major markets), so you have to get a little creative sometimes to find a great deal. When are you planning to move?

Hey @Erich Kuhstoss, if you're BRRRR'ing 1-4 unit properties, you should be able to qualify for residential financing. With Conventional loans, you can typically go up to 75% LTV on a 1-unit cash out refi. Residential lenders that offer portfolio loans (meaning loans they hold on their portfolio/backed by private investors) generally are going up to 80% LTV on cash out refi's on 1 unit investment properties. These aren't static - they change as markets/loan guidelines change, but that's what I'm seeing right now. I'm not a commercial lender, but the last time I spoke with a commercial lender (last week) I discussed construction loans with him and if I couldn't do a traditional refi it would convert to a 5 year fixed rate then adjustable for max 20 year term. Might be able to go to a slightly higher LTV w/ commercial loans, but the shorter term makes it harder to cash flow.

@Peter Nikic hey Peter I know several real estate attorneys in the Nashville/Franklin area I could refer you to if youre okay with their location. Im sure they could help with properties in Chattanooga

@Eddie Bowie hey Eddie! I grew up in Columbia and lived in Baltimore for a little while. I know several great agents in the Baltimore area (as well as several other areas in MD) that all invest in properties themselves, so Id highly recommend them. Id be happy to connect you with one of them if youd like. Best of luck!

@Rebecca Bautista hey Rebecca, welcome to BP! Clarksville is a great market from what Ive heard. Im down here in Nashville which has also seen crazy growth over the past 5-10 years. Have you considered house-hacking? Its a great way to get started and doesnt require a whole lot of money down (potentially 0% down if you buy in a USDA-eligible rural area, are a veteran, or using THDA down payment assistance). I got started by house hacking and it essentially eliminated our rent expense of $1000/month (or $12k/year), while also giving us experience managing a rental. And that doesnt even include the other benefits (i.e. appreciation, loan paydown, tax deductions). Id also recommend taking advantage of low rates and refinance any debt you have if they have high rates (i.e. student loans, auto loans). Rates on most loans are very low right now so it could lower your payments to improve your debt-to-income ratio once youre ready to buy your first house/investment property. Best of luck! Feel free to reach out if youd like to hear more about my experience getting started.

@Humberto Perez hey Humberto, Im so sorry that happened to you. Unfortunately, there are a lot of inexperienced lenders out there. What state is the property in? MD?

@Jared Rollins hey Jared, I grew up 20-30 min outside of Baltimore and know several great agents there who are also investors themselves. Would be happy to put you in contact with one of them if youd like. Best of luck!