All Forum Posts by: George Despotopoulos

@Fibian Berkeley. Getting a loan is probably the best way to approach your situation. A track record of a 10 year lease should help when talking to any lender in the country. Good Luck

@Tanya Smith. I would agree with low property values. In most instances, it is also very hard to get a loan on the low value properties. The rule of thumb for property value should be a min. of $100k. 

1% is more realistic than 2% in most markets. Keep in mind that strong rental income from a property will also help when trying to get financing for your property. There are lenders out there that will look at the actual income from the property to qualify you for a loan and not your personal income. 

Good Luck

@Cecilia Arnulphi. Yes, they are usually 1.5% - 3.5% higher.

The lender will usually tell you if they are lending in the state you are investing in. 

@Cecilia Arnulphi. If you are unable to qualify for a conventional loan, you should explore potential rental investor loans with specialty lenders. There are lenders out there that will look at the actual income from the property to qualify you for a loan and not your personal income. Down payments on average are ~30% of the property value. Good Luck.

@Kevin Farrell. You should explore potential rental investor loans with specialty lenders. There are lenders out there that will look at the actual income from the property to qualify you for a loan and not your personal income. Down payments on average are ~30% of the property value. Good Luck. 

@Tony Velez. No such thing as being too strict. Stick to what you have been doing all along. 

@Kitty Jedra. Although investing in a rental/cash flow property is the way to go especially in these markets, it is probably not great idea paying the exogenous fees to withdrew money from your 401k before retirement. I have heard people taking loans out based on their 401k balance. That may be more prudent and can potentially use that cash for your down payment. 

@Sean Autry. Numbers look reasonable. Are you planning on financing any of the rental properties you purchase? 

Good Luck with everything 

@Sterling White. We believe borrowers have a harder time financing rental properties because lenders out there look at their personal income rather the income from the property. I would like to get your view on alternative ways investors find to finance their properties and get your general view on this topic. Thank you 

@Daniel Toshner. Congrats on your success thus far. How are you funding all these properties? Is it all cash? Curious to hear how you expect to grow your portfolio over time and what kind of financing you are trying to achieve. Thanks