Unlike traditional banks, which focus heavily on personal credit and income, portfolio lenders prioritize the cash flow of your property.

Happy to connect if you want to swap tips or chat more!

The seller doesn’t need to know that the underwriters may give you more of a hassle than other buyers.Or do you have lines of credit or a private lender so you can make a “cash” offer then try to get the financing through before close or at worst just do a cash out refi after close?

So even if its not earth shattering new tips I learn, the structure of the program, clarity of best practices and a timeline forcing me to implement these strategies, to likely be worth the money. 

A good tip is to reach out to contractors, visit local supply stores, and check out online resources for cost ranges.

To do well, build a strong money base, keep a good credit score, and look at other loan types besides FHA.

Screening tenants well and then a security deposit or credit card hold process in place will limit liability.

So do a background/credit check, get a full application, paystubs (Call to verify), former landlords phone #s (Call to verify), and other information.

In some cases they cannot pull the money out because it is now (Non-owner occupant) an investment and their credit union or bank may cap them at 70% or 75% MAX LTV.Nothing wrong wiht putting 10% down on a primary but look at the rates on both 5% and 10% usually when you have PMI built in the rates stay the same.

Practice tips include budgeting, saving, and leveraging strengths.