All Forum Posts by: Robert G.

Looks like if I managed myself cashflow would be $4998 with reserves and vacancy. 

ROI $4998 / 38,000 = 13.15%

Does this look correct?

managing myself. HOA does not have any rental limits

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Looking for some advice with my first deal! Thanks in advance!

2 bedroom condo that has been completely remodeled (granite, stainless steal, new carpet, new paint, base boards etc). Purchase price is 38K, would be paying cash. Average rent is $700 for the area but my realtor believes we could obtain a contract at $725 because of the remodel. HOA is $140, includes water, sewer, trash. Annual taxes are $202. I understand this doesn't fit the 1% rule.

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As title reads, I have the cash for 20% down payment on a rental property but can't finance the other 80% because I just maxed out my ratio as I just bought a house.

I was thinking of purchasing a rental property with an existing rental agreement in place. Looking for a creative way to finance something. Thanks again!

any help is appreciated!

Almost forgot the details!

4bd/3bath build in 06. Is a short sale @ 135. Market rent for this area is $1250. Thanks again for the help!

Hi BP!

May have just found a perfect rental in my area but had a quick question regarding the financing (am calling my mortgage specialist tomorrow!).

Long story short....purchase price is 135k and is a short sale. I have 25% down payment in my savings BUT am curious if I will be able to secure a loan if the remaining amount (108k) doesn't work w/ my DTI ratios.

Could a put a lease agreement in place to secure the financing or would it have to work w/ my DTI?

Thanks!

I think this is the best option...waiting 6 months that is.