All Forum Posts by: Louis Louisius

@Louis Louisius

You can't have the intention of renting it out long term with a second home so it sounds like that won't work for you. You can also do 15% down on single unit investment properties so that would be your next best option! 

@Louis Louisius

The second home route would be the only way to stay ay 10% down.  As you mentioned, you would need to occupy this property at least 14 days out of the year. Wesley chapel is not too far from the water so perhaps you can make it a little vacation!

Either way, you need to be working with an investor friendly agent if you are purchasing out of state. I would recommend you chat with @Josh Green. He has helped several out of state investors purchase properties in the around Tampa area.

sorry for the delayed response. The goal is to buy and hold and go from there to start generating cash flow. i looked into trying to use a heloc to obtain but the numbers don't support interest only payments or a pay down with that route as rents are a max $2,400 on townhomes around the 35545 area. not sure about the HOA rules either but i'm assuming it would be ok to rent out your property. also I'm in wesley chapel

Hey Louis, what's the goal with the property? I'd be happy to look at the numbers you're estimating and see if we can't find something better? What's the HOA's stand on using it as a rental? I deal with a lot of out-of-state investors as @Nick Velez just mentioned and I can't say I'm not skeptical at buying a townhouse in Wesley Chapel as an investor but I am open to being corrected!