All Forum Posts by: Zachary Deal

How much is the down payment? I know with the prices in the Denver area skyrocketing, the rental rates have not exactly caught up making it difficult to cash flow. You may consider looking in the far outer Denver area suburbs or if you're comfortable investing out of state (if you're Denver based), consider going that route. 

If you want to get into the market for the appreciation play and are willing to negatively cash flow a bit you could consider a negative DSCR loan.

Great insights Jamie, thanks for sharing!

Hi Jerrell, I would recommend consulting with a local NYC RE attorney to confirm NYC tenant/landlord laws and regulations 

I think it really depends on your market. If you have a very strong STR market and are in peak season you could generate quite a bit of revenue in a couple week gap between MTR guests. Since you already have an STR license for the property, it may be worth it to at least try and test the waters with an STR bookings and see how it goes.

Quote from @Nicole Heasley Beitenman:

Hopefully you can find a lender with lower rates/fees as the others have suggested (although I would be wary of the cheapest lender. I've used the cheapest lender in the past, and they were cheap for a reason). Do yhttps://www.biggerpockets.com/forums/925/topics/1185311-need-advice-on-financing-a-new-purchase#ou cash flow regardless of the scenario? If so, I'd always put the lowest amount down. The additional funds can be used for reserves, down payments on other properties, or closing costs when you refinance. 

Nicole brings up a great point. You want to ensure that your lender is doing their upfront due diligence on the deal, has programs to get the deal done if the final numbers come in different(low DSCR requirements, favorable rent guidelines, etc), and is offering you excellent customer service. The cheapest lender may be the cheapest for a reason and change terms down the road or have difficulties getting you to the closing table 

@Kaleb Ahonen May make the most sense to post in the classified section of BiggerPockets. A PM that specializes in STRs may also work with MTR clients 

@James Wise Nailed it. I would reach out to experienced PMs, landlords, and realtors in your area to see what others are charging. Going to local RE meetups can be a great way to make these connections!

I agree with @Bonnie Low. I would definitely go with a queen bed if it can fit that and desk. Sounds like the location in the Bay has awesome protentional as an MTR. Good luck! 

Quote from @Koushik Saha:

Hi Jason, thanks for responding.

It's a SFH investment property and I'm using a conventional loan program. Most banks are asking for 20% or more. However the rates are nowhere your numbers :)

I have cash saved to put 25% down plus closing cost. But I'm wondering whether it is wise to put more money down for lower interest rates or take a hit on interest rates and keep money in pocket? Whats the key number I should look at when making the decision? Thank you!

This looks more like some type of non QM or DSCR product than conventional as it has a prepayment penalty. With DSCR loans putting more money upfront can help lower the rate and improve cash flow (DSCR ratio), which should improve pricing.

@Tom Kastorff I have had success in NYC posting on specific pages. I think FB can be market specific and positing in RE focused groups in your area tends to be the most successful way