All Forum Posts by: Ryan Blankenship

needs: 722 middle FICO, 12 months reserves, property near a state park or some very clear paper reason, 2 years IRS taxes full doc, comps past 3 months with a loan not cash... and other ins and outs

I believe he meets all this criteria. Do you have any recommendations?

0 Votes

Columbus, Ohio

Quote from @Katherine Blazer:

@Ryan Blankenship What area is he looking in?

Ohio

1 Vote

Columbus, Ohio

I have a buyer that would like to buy a vacation home with 10% down, but the property is 969k and considered a "Jumbo-loan". Under this categorization, local lenders are requiring 20% down. Any recommendations on how to keep a 10% down payment?

1 Vote

Columbus, Ohio

Quote from @Emmanuel Lopez:

I want to figure out what ways do investors finance on more than one multi family?

I have one two family and have been presented with multiple opportunities to purchase others but is putting 25% down for the second and rest the only way? If not I’d like to hear how you are all doing it.

Thank you

The most common method is to do owner occupied with a 3-5% down payment and house hack it. You can also buy the unit as a second home with a 10% downpayment as long as you spend a couple weeks in it per year. You should be able to find DSCR loans or investment loans under 25%, but they're difficult to find under 20%.

I believe the best way to own multiple multifamily buildings is to use an investment loan to finance a building that needs a little work. Finance the rehab into the original loan and Brrr it.

I'm really interested in DSCR loans with a partner in order to cover downpayments. Hope that helps.

0 Votes

All Forum Posts by: Ryan Blankenship

Ryan Blankenship has started 2 posts and replied 14 times.

Post: 10% Down Second-Home Jumbo loan

Post: 10% Down Second-Home Jumbo loan

Post: 10% Down Second-Home Jumbo loan

Post: What are creative ways for multi family financing