All Forum Posts by: Saul G.

Originally posted by @Doug Crenshaw:

Sort of finding an Investor Friendly Realtor for information, you can also go to your county Realtor Organization website and they have reports that you can download. They are free reports and they show you all the stats on a monthly basis. Since you are in Miami I would take a look at the Miami Realtor Organization - here is the link for the market reports. 
http://www.miamirealtors.com/news/south-florida-market-intelligence/miami-broward-jths-detail-statistical-reports/2020/monthly/february

Hope this will help!!

Doug

Thanks for the reply I'll check it out, I have MLS access so I can download stats but not technically savvy enough to automate that process

Is there such a thing as an interactive map with sales numbers, listings, trends etc.. free or paid doesnt matter

Thanks

About 1/3 of that. They are doing 5% conventional loans here for owner occupied with another 4% closing so around 20k total for 200k. I dont know for investment loans Im guessing it would depend on ltv.

If you move out and rent both units you still have to live somewhere right? Depending on where you move to, the additional rent income may just cover your new rent so you'll be in the same spot.

@Jon Holdman That is my intent yes, I want to work on my portfolio before I buy a primary residence. Not having a mortgage most definitely helps my dti since my rent now is about half of what it would be. Im trying to have a consistent acquisition plan for my 10 conventional loans and cut the in between waiting time as much as possible, i dont know exactly the underwritting rules for investment loans, most people buy their primary residence first then work their way up thats why I thought it was relevant. With my current cashflow and basic lifestyle I can gather a downpayment on a 200k propty possibly every 4 months. How realistic is it to expect buying 2 rentals a year? I'm assuming an invesment loan is the way to go here but I'm open to suggestions.

thanks @Joseph M. everything almost back to normal here. well from what i can tell the market has slowed down a bit, a lot of damaged property, i've seen 10-20k discounts in some desirable areas for SFR but that may not offset the damage

@Troy Zsofka How long does a lender usually require you to have a rental before approving the next one? Any tips on speeding up this process like putting the property in an llc?

...with a 2 year old llc (no rental income) and no primary? Just based on these 2 parameters. Also, whats the chronology for turning a primary into a rental?

@Di Di Dee the truth... although you could make it work with 66k

A small personal loan to cover the downpayment will further increase your debt to income and lower your credit score fyi