All Forum Posts by: Raymond J. Rodrigues

@Ryan Leary, is this a 2 bedroom condo in Miami? I live in Miami too and am also a mortgage lender. I don’t think we will see 3% rates any time soon if you want me to be honest with you. So hoping for that, I would say is wishful thinking. Hoping for future rent growth to help favor your situation a little more might be a bit more realistic. I would rather rent at a slight loss than to be vacant for an extended period of time. For each month that you don’t have a tenant, you are losing $2300. I would rather lose $200 per month than $4600 for the year. Where is this property located? 

@David Kanter I would agree that the south Florida market is not doing as well for investments. However, I do know a few investors that are doing quite well in Florida depending on your price point. Happy to share their experiences with you! 

@Michael Martin feel free to reach out.

@Richmiel Katembwa veteran owned and operated mortgage company licensed in Georgia. You can use your VA loan a second time to purchase a multi-family property as long as you have enough entitlement left over after your first purchase. Happy to discuss further! Feel free to reach out.

@Tal Barazani if you're looking for a lender that has many options with regard to excellent rates for investment properties in the TX area, @Tal Barazani feel free to reach out. 

@Ahmed Moustafa usually the loan servicer has the say with regards to a waiting period. I would call Fannie Mae directly. 

@Allan Yeung I was just in San Francisco for a few months and loved being there. If seeking conventional financing, you cannot do a cash out refinance based on ARV until 12 months of ownership. There are other loan types that allow for 3-6 months seasoning of ownership with slightly higher rates. If the lender states that there is no seasoning requirements to refinance based on ARV, the rates will generally be a bit higher.

@David Bull I've assisted quite a few investors in the Georgia area and would be happy to share any resources that I can. Feel free to reach out! 

@Christopher Satterwhite I know of a loan option that can help you out. Feel free to message me and I'll share the info with you. 

@Jill Keller, all banks do not lend to LLCs. Especially if all they issue are conventional loans. DSCR loans and portfolio loans are types of financing that allow you to close in the name of an LLC. Do keep in mind that all of these loans will still likely require a personal guarantee. Always feel free to reach out to me if you have any other questions!