All Forum Posts by: Toni Myaer

Hi Ethan, and welcome!
I may be bias, but Florida is a great place for investment properties!  I have two properties here which have done great with both short-term and long-term renting.
One of the best connections you could acquire for this area is @Jorge Vazquez out of Tampa.  Whether it is real estate, acquisitions, property management, or lending... he is the "go-to guy"!  He is a CEO and content expert in the world of investing, has received many awards and even been recognized in Forbes.  Many of your most successful investors have crossed paths with him.
Good luck in your ventures, Ethan - you'll do great!

You should look into DSCR loans from a non-QM lender, as they can do your loan in any state. You can qualify without reporting your income - the monthly rental coming in qualifies the loan by being equal to or greater than the monthly costs you put out. In other words, you would just need to have a positive cash flow.
The property does need to be in "livable condition", so if you have any rehab beyond minor aesthetic repairs, you could get a Fix and Flip loan which is short term (12-24 months), interest only, and no prepayment penalty.  These are easy to qualify for even if you have lower credit scores, and you can borrower up to 100% of your rehab budget.

Hope this helps!

 Thanks for the welcome, Julio!

Hi Morgan, and thank you for the welcome.  Yes - they are both within 45 minutes of where I live, and I manage them both.  I'd like to look for good deals elsewhere and hire a management company. 

Hey there!  I want to introduce myself and say how excited I am to find this forum!  This is such a great way to stay current on the industry, and listen to advise and opinions of others who venture in this exciting path.  I'm an MLO and I have two rental properties; one long-term and one short-term, and am excited to acquire more.  I hope everyone is excited for 2024... I know I am!