All Forum Posts by: Tsipora Smith

Yes, you can rent a brand new home but there are some things to look out for. 

1. Funding (if you are going with a bank loan, make sure it allows for investment properties)

2. Check the HOA (most have restrictions on rentals)

3. Check with the builder (they also have a cap on how many rentals they will allow in a subdivision they're still building/selling in

I currently am using a national property management company. My thinking was that if a healthy relationship could be established with this company then they would be able to support my properties as I expand across the nation. Nevertheless, I'm now thinking that a local company would be a better fit as this large national company is not as responsive as needed and constantly fails to enforce fees stated in the lease. In short, I'm looking for a company that can manage my Garland and Mesquite, Texas rental properties. I do not need help find and screening tenants, merely managing repairs and tenants needs after the tenant moves in. 

My suggestion would be to seek out a broker. They'll handle a lot of the heavy lifting for you.  

I'm in a similar situation and went the DSCR route. This is a non-QM loan with a 30 yr fixed based only on the income generated from the tenant.

 You're welcome!

I'd recommend applying a with a broker as opposed to a bank. This will afford you the benefits of them having multiple options to try. It will give you the most comprehensive picture of your available options. With regards to the effect on your credit, you can have a soft pull done. The difference in a hard and soft pull is the effect it will have on your credit but also how long it takes to fall off. The "damage" the pull has on your credit isn't permanent. It is critical for you to know what you're approved for in order to begin to craft a plan. 

Personally, I would seek more value before I'd ask for a reduction in commission. David Green and other "big time" investors frequently mention the difference in mentality of a "discount agent" vs a "rockstar agent". You want an agent working their hardest for you as well as adding value in a multitude of ways outside of just listing your property. My agent helps with design, scope of work, checking on rehab progress, staging, sends me pocket listings first, finds me buyers before I even list, etc. A discount agent who isn't the happiest with their commission structure isn't going to be doing all those extras. 

that is a job for the title company that you all decide to use to close the transaction