All Forum Posts by: Steve Ford

Good point. Thank you. 

Awesome. Thanks so much for the quick reply. I'll check him out.

Closing on my second STR this year currently, as well as having an AirBnB arbitrage investment progressing. Looking for a CPA in the Houston Area, preferably in the northern suburbs (Spring, Woodlands, Conroe). Any recommendations would be much appreciated.

Thanks all. BiggerPockets comes through again. 

Awesome leads. Thank you. 

Thought I'd done all of my due diligence for starting into the STR space and now having challenges finding insurance coverage. Could get a policy with it as a second/vacation home, but expect I'd run into claims issues if BnB renters caused a problem. Any and all help/guidance appreciated. Annoyed that I missed this one.

Thanks Andrew. Doing 10% down. Credit is 800+. I have reached out to a few other lenders to compare. So points is pretty normal, but is it a regulatory thing through Fannie?

2nd mortgage for a 2nd home. And no idea if LLPA is applicable. Just something I found with a google search that I thought might be the basis of my lender saying these kinds of loans require points. 

I'm under contract on my first property (thanks BiggerPockets community). My lender just told me that 2nd home liens are required to pay points. I got the impression it was a Fannie thing, not an individual investor thing, but I haven't probed any deeper with him yet. Wanted to check with the folks here to get educated first. I read something about LLPAs on the forum that I don't understand. Any advice/education would be appreciated. He's saying 7.5% with 3pts or 8.125% with 2pts (30 year fixed) with no Zero or 1-point options. Won't kill the deal, but more out of pocket than I'd anticipated (and a little frustrated he hasn't mentioned this previously).