All Forum Posts by: Stephen Nava

@Chris Mason

What are the advantages of flipping to Freddie?

I really appreciate the help. My property tax is about $7100 annual and this is really screwing up my DTI. Sometimes lenders make careless mistakes and calculate my numbers incorrectly. I wanted to make sure that I was getting denied a loan program for legitimate reasons. Do lenders use 2016 property tax or 2017?

Do lenders count property tax and home insurance as debt even without an escrow account and no record on credit?

I am a young investor here in Austin, Texas. I am very interested in real estate and I would like to sit down and have coffee with someone. Let's meet up!

If my primary home is free and clear, are the home insurance and property tax considered debt? There is no escrow account and it does not show up on my credit. 

If I do not have a real estate license and I am interested in buying a property without going through an agent. How do I put a property under contract?

Multi-units are great for tenant occupancy stability. Rent increases can be divided by the units and can be taken easily by tenants, or each unit can be increased by a certain percentage and yield more return on your money. Property management is convenient when there are more units you own in an area, and that saves you on the cost of gas and time. You can utilize the "house-hacking" strategy for 2-4 unit complexes which can give you a jump start on your real estate investment venture. There are so many cool things an investor can do with multi-unit complexes, but sometimes single family properties can be great for appreciation or quality.  Remember that with conventional loans, once you have 4 properties, it will be harder to ask for loans. I like to use conventional loans for properties with more units, that way I can worry about being creative with financing after I have multiple multi-families in my portfolio.

Co-sign with people you trust. Eliminate car payments and credit card liabilities. Partner with investors that have the high generating income and bring value to them by providing property management. You have to be creative and particular about your finances. 

Authorize user. Look for someone who has great credit that can put your on one of their "good-standing" accounts. You will see a huge difference within a month or two. 

Do not renew the lease. Talk with the individual and make the best effort to make the transition easy. Connect with the family or friends. You might even have the bring in a dumpster for the mess. This is a problem and you must deal with this before this individual becomes a high risk.