All Forum Posts by: Kevin B.

I'm coming out of a bad experience with delegating screening/showings to a realtor. Maybe I got unlucky, but my general sense is that the realtor didn't really follow up leads generated from MLS (or even my leads from CL) and has simply been forwarding me occasional applications from other realtors that have shown the property to their clients. I think MLS listing (at least in my area) as a dud, and a CL/ Zillow/HotPads listings as sufficient with expedient screening and showing. However, being out-of-state I am left with a dilemma of who I can put in charge. I was only successfully able to talk to one property management company (a few others in the area exist, but the online reviews are scary), and the individual who runs it lives to far away to conveniently show the place. I could possibly hire someone off CL to perform the same task but this seems risky to me. Has any one come up with a good solution to this?

Just thought I would share a summary of my recent findings in obtaining mortgages for rental property.

Background: 800+ credit, 30 year fixed, rental property

Conventional Mortgage: 4.125% rate, 25% down, must have income to back up mortgage, ~$500 processing fees, no minimum loan amount

Investor Edge from UWM Product: 6.25% rate, 35% down, no income proof required, $0 process fees, $75k minimum loan amount

Stated Income Loans from Portfolio Lenders: 7.5-8% rate, 30% down, no income proof required, $0 process fees, $100k minimum loan amount