All Forum Posts by: Kyle Deutschmann

@Sachin Amin Id have to see a breakdown of the closing costs to see if its reasonable. For example, does that include an initial escrow deposit for tax/insurance? Are you paying any discount points to buy down the rate from the market/par rate you qualify for? if so did your lender explain the cost/benefit or breakeven point when the benefit of a lower rate/payment outweighs the upfront cost of the points?

@Amir Saeed most likely will need to do a jumbo loan or a portfolio loan. Rate is highly dependent on a number of factors (credit score, loan-to-value, etc.) But jumbo rates arent that far off from conventional typically if you have decent credit.

@Jeremy Goebel hey Jeremy! Depends on what your goals are but Nashvilles market remains strong and continues to grow at an exponential rate. New construction everywhere, tons of cranes in the skyline, growing population/ job market (i.e. Amazob moving in), rising rents, etc. Only problem is its more difficult to find really great cash flow since its such a hot market but there are still plenty of investors making money here. Feel free to reach out if you want to chat more about the market!

@Marco Morkous hey Marco, I have a few great Realtors I could connect you with if you havent already found an agent to work with. Despite what some may say, there is still opportunity here in Nashville and one quick look at the skyline would indicate the city is still growing significantly (great sign for buy and hold investors). You just have to get a little creative. If you consider buying as an owner-occupant you can take advantage of lower rates, you can look for ways to add value to a property, look a little outside the urban core, etc. Best of luck!

Looking for contractor recommendations for a client in Saint Paul, Minnesota who needs to re-do her siding and roof before refinancing/getting an appraisal done. Please post or DM me with any recommendations. Thanks!

@Abraham Bakre hey Abraham, welcome to BP! Have you considered buying in Baltimore? I grew up in Columbia and have connections throughout central MD (Baltimore, Howard/Moco/PG, DC, etc.). Happy to connect you to someone locally. Best of luck!

@Vindy Ma hey Vindy, Ive rented spare rooms in my house, and I would recommend doing a year lease to minimize vacancy. Id also absolutely recommend screening your tenants. Theres an Experian for landlords service that allows you to do a soft credit check. Id also recommend doing a background check, ask for paystubs to verify they make enough income (I usually say gross income should be >= 3x rent), ask for previous landlord contact info, etc. You can also use social media to look for anything that might make you think they wouldnt be a good fit as a roommate. If they dont want to be screened, that would be a red flag for me personally. Best of luck!

@Nick Nobile happy holidays to you as well! Happy to share my experience house hacking sometime if youre interested. Good luck!

@Nick Nobile hey Nick, have you read the house hacking book BP just published not too long ago? Could be a great resource to help you figure out your strategy. In most major cities (including Nashville where Im house hacking), you have to get a little creative to make a house hack work (i.e. rent by the room, find a house with an in-law suite that you can live in and rent the main house, etc.)

@Nathan Scott hey Nathan, it will depend on what your debt-to-income ratio would be with the new loan, what your credit score/history looks like, if you have any liquid assets for reserves, and a few other factors. If you have good credit history, cash in the bank, and high income compared to your existing debt you will have a good chance of qualifying for another loan