All Forum Posts by: Nate Bartlett

Hello, 

My wife and I are looking to close on our first STR deal. My mortgage broker is telling me that with the current market, we are likely going to be required to put down 25-30 percent. Our financials are good, credit scores good, and we are approved for a conventional owner occupied mortgage. We decided on holding off buying our personal property so that we can take advantage of this great deal we found.

Looking for opinions on whether or not we should shop around. I’ve been reading that 20% is standard for investments, but even saw some lenders will do 15%. We are inexperienced, so I’m sure that 15 might be out of range, but 25-30% will make this deal unobtainable for us. 

Hi Jack. I'm ready to start investing and I'm really itching to get into the game and start building a portfolio. I know myself well enough to know that I do not want to door knock and I do not want to cold call, so I don't think wholesaling is a great option for me. What I'm struggling with is the fact that I don't currently own a home, and can't buy a primary residence because I'm tied into a lease for another 18 months. We recently moved to Atlanta from Chicago and didn't want to buy right away, plus my wife was a full-time student working on her MBA at the time, and I had just started a new business. Now we each make well over $100k per year. I've got about $60k of liquid cash in the business that I'd like to pull out, but I don't really know what my best move is. I also don't want to mess myself up when it's time to buy my primary in 2023. So I was thinking of partnering with someone with a little more experience than me and doing a few flips. I figure I can get in the game and build up some capital while we are renting. Any advice?