All Forum Posts by: Ty Keller

One of the biggest challenges I see is folks making the leap into their first rental property.  I think one of the easiest entry points to help them do that is to help them maintain their existing primary residence as a rental and help them get into their next primary, but I find a lot of people aren't sure how to do that and if they can get approved for it.  The person you want to talk with is a non-qm portfolio lender who can look at the whole financial situation and who can show you your options and how to do it.  I'm a portfolio mortgage lender with over 15 years experience and have programs that have creative underwriting guidelines that really open up the possibilities for my clients.  This is the type of lending that investors begin to gravitate to as they start building a rental portfolio because they're not hampered by some of the conventional guidelines and limitations. 

Hey @Ryan Hill I'm in Cumming, GA.  My guy is Jon Gibson with J Grant Resources.  404-783-7226

I would recommend Mark Perlberg for anything real estate related, especially if you are an investor.  My clients work with him and he's a very trusted resource for me.  www.markperlbergcpa.com

@Tara Montgomery a HELOC sounds about right, being probably your cheapest source of capital. An investor friendly lender with non-qm options needs to look at your scenario or have a conversation. I would love to see the full picture to know what other opportunities there are to leverage your real estate. I'm local here in Cumming, GA and a portfolio investor lender if you're looking for advice or help on real estate financing. Glad to help you out!

@Sunny Malik I'm a portfolio mortgage lender and live in Cumming as well. The blanket investor loan might be a good option for you, or a DSCR on each. We can use the 100% gross rents on your rentals for DSCR loans. The short term bridge financing available is also pretty attractive. Would be happy to take a look at your situation and give you a recommendation on a path forward.

Robert, It all starts with a conversation like this.  A big hurdle that a lot of people have in this similar situation is not knowing what's possible on the financing side, and that's because most mortgage lenders only talk about the products they have.  One of the biggest and best kept secrets is non-qm lending, which caters to entrepreneurs, business owners, investors, retirees, etc. Over my career I've specialized in this area of lending and working with investors to help them build portfolios and use special programs for buying their first investment property even with no experience.  Would love to connect and send you some resources.  

I think appreciation is probably going to stay pretty flat in the near term so in my mind its a great time to buy if you can get the return you're looking for on a fairly priced property.  

Hey Chase, I thought I'd jump in and add a lender's perspective on this. On regular conventional investment property mortgages I have some clients putting the minimum 15% down and on DSCR loans they're putting 20% down. In either case, I've ordered an appraisal with a Form 1007 Market Rent Summary which will give us the amount of income we can use on the loan. On a DSCR loan, this is the only income on the loan, and on conventional it is a supplement to the borrower's other income. I have seen appraisers provide an average rental rate on the appraisal rather than a snapshot of a particular month and it hasn't caused any issues. Georgia and Florida are my two most active markets I lend on for STRs.

I love the video. The reserves obviously vary by lender. Ours for instance is 6 months required reserves if the loan amount is less than $1 MM. An additional 3 months reserves is required when the rent does not meet the full payment at a 1.0 DSCR.

I'm actively lending in Navarre Beach, Pensacola, Santa Rosa County, 30A, Florida.  Navarre Beach is drawing a lot of investor interest as places like Destin have grown so much already. 

Hi Gabriela, I'll throw my name in the ring as well.  The majority of my business is portfolio and conventional lending to investors for short-term and long term rentals, fix and flip, and multifamily.  Would be glad to help.