All Forum Posts by: Raeven S. Reivers

@Jill F.

I was referring to the multi fam properties. Thank you so much!

@Blake Dailey

Beautifully said! Thank you

Hello all,

With respect to finding good buy and hold deals, has one ever noticed a higher ROI with larger properties?

Larger meaning higher priced properties.

Obviously the monthly mortgage goes hand in hand with the price of the property but does the higher price make it a better deal?

Thanks

Raeven

@Derrick Dill Appreciate the help. I actually did try these points and they do work! Did the balance transfer with smaller amounts and took care of every other debt.

It’s a 25 year loan at the lowest rate which is embarrassingly still kicking my butt. Might be time for another job.

Thanks again!

@Jason Reynolds appreciate it! Those are awesome ideas. A co-borrower seems pretty likely for me right now. It’s probably the next property I find that’s going to be an issue but hey that’s what being creative is all about.

Thanks again!

@Jaysen Medhurst thanks a lot! This definitely helps. I’ll definitely give it a look into and will probably end up giving it a try anyway. Thanks

Hi all! Some help if you have...So I decided to take the conventional route and managed to save up a 20% down payment on the 150k-250k range of multifamily properties(2-3 unit preferably).

The savings actually comes from the work I’m currently doing to help with the covid efforts or else it would take me about another year to save up this money again due to the good debt I have right now(5% interest on student loans).

To get specific I’m looking at a 35-40% debt to income ratio right now solely from my student loans unfortunately. I’ve yet to take the action to get pre-approved because of this issue. How much of a problem is this usually when attempting to get a lender? Are there any other options?

Thanks,

Raeven