In 1972 the 30 year mortgage interest rate was 7%.

I’m also a California-based investor, but I’ve been investing in Detroit since 2019 and currently own 12 doors there.

Looking at a property that would be a somewhat turnkey STR, it has great numbers and occupancy rates.

Last year, I purchased a SFH under market at 7.65% interest rate and did some rehab to up the value.

Investors come to our market because of the low barrier to entry and that we have a solid tenant base that provides solid cash flow to out-of-state investors like yourself.

Working with a mortgage broker that specializes in DSCR loans will help you find better rates and programs such as lower DSCR ratios such as a DSCR 1 ratio for better terms versus needing a 1.2 or 1.25 DSCR ratio (more on that below).

I haven't walked most of these properties in person so my rehab numbers are based off the pictures, but it definitely seems like there's some value to be had here.

I am a resident physician in dermatology, during  medical school I bought a property in Denver with an Interest rate of 2.75% (COVID rates lol) with the goals of renting it out when I moved onto the residency.

.- Low Interest Rates: Competitive interest rates make property ownership accessible, especially for those with stable income like service members.- Military Presence: With U.S. military bases across Germany, local banks are accustomed to assisting service members with financing.How to Qualify1.

But if you can finance a home in an appreciating area make it breakeven and at some point (as always) either rents/nightly rates will increase, interest rates will go down, or both.