All Forum Posts by: Anastasia G.

Hello! Finding good landlord tenant attorney is not that easy; our courts a backed up by on average of 1.5 years.. I see a lot of landlords are offering cash for keys and/or some kind of assistance with relocating. Feel free to dm for contact info

@Ryan Karel Hello!

If you are purchasing multi, underwriter will use rents from smaller units excluding owner occupied units; The amount will depend on the form of financing, FHA has specific rules.

I highly recommend to work with your CPA/accountant & Mortgage lender on tax/mortgage projections before year ends to estimate your purchasing power, especially if you are self/employed/business owner

@Mordy Chaimovitz Hello

@Zac Stiles is right, review your closing docs and find "acceleration clause", read it carefully; you should look into home insurance umbrella policy - reach out to your home insurance advisor.

@Jon A.

Hello Jon, I would be happy to help; we would want to review your taxes and all debt that is under your name, evaluate income if it is enough to sustain new mortgage - traditional, if traditional is not an option then DSCR/no ratio depending on occupancy, run the costs/savings; compare to at least 3 various terms over 3, 5, 15 years or whatever period is necessary.. This is not a simple exercise, but we provide you with the right tools & calculators to make an informed decision.

Hello @Samantha Gray

I second @Mark Fein on TD Bank. This should be a first lender to check with for all Canadians. If TD bank cant help you feel free to reach out, we have other options.

Hello @Shu Matsuo Post

Yes you are able to, there are many programs in Non QM world that allow you to purchase properties; in traditional space as well if lender allows manual underwriting. 

Feel free to reach out

Hello @Omar Ynoa

Welcome to real estate! Have you gone through pre-approval yet? 3 family in those areas can be easily as high as 700k, you would want to establish a budget. If you were to use FHA financing you would need to be careful with higher prices & higher taxes, 75% of market rents must cover proposed mortgage payment; We typically run max FHA scenarios and provide with all sorts of calculators; If you were to go with 2 Family you will have more financing options as a first time home buyer where we can potentially use 4-4.25% rate and no mortgage insurance, the difference in monthly payment can easily be $500+ which will help you with your Returns/cash flow... the bottom line structuring financing is step 1. Feel free to reach out with any questions.

@Sol Romand

There is not much appetite for mixed use properties, in your case is especially (75% office space); business banking route might be an option; in Non QM mixed use are case by case and the rates are above 8%. Feel free to reach out, would be happy to connect you with my business banker in New Jersey.

@Francisco Disla

Welcome to the world of real estate! 

First things first - get your finances in order (if you have not done so yet); unless you intend to purchase real estate using cash you would need to understand your borrowing options & the cost of borrowing; Commuter towns & upcoming areas are very vague..It will come down to your goals, budget and expectations...Everyone's wants & needs are different..

Hello @Justin Miller

Refinance is the same process as you getting a mortgage to purchase a home, new loan proceeds are used to pay off loan in place; Financing terms/structure will depend on your unique situation. If you were to go traditional route - then your credit/income/assets/property type/occupancy/goals will determine the amount & terms of the loan; If you were to go non-traditional route then income (DTI) might be omitted in the evaluation, but the rest is still in place.