There is a lower ratio program of .80% in cases of low rents but the rates are higher usually in the 8.50 to 9.50% Be careful of your prepayment penalties as well it can lock you into a high rate or cost you money if you plan on refinancing in 12-24 months.If you ever have any specific quetions feel free to reach out I am always happy to help and talk REI!

Reach out to @Joseph Chiofalo for a wide range of reliable and creative lending scenarios. 

Open to loans but only if we net 10k a month after mortgage payments With 2 million dollars you could solely fund one of our ground up development deals at 15% down on a 50,000 sq ft building which we put about 70 units in on non recourse debt for land we already have locked up and entitled. don't buy and hold, don't listen to any of the 20 agents from columbus here who try to sell deals that are garbage. if buy and hold was the answer you'd see massive capital pools in columbus buying deals up. that was the model in 2014. all of the value creation is from ground up development partnerships. we can build with land cost below 65% of finished asset value on lease up and you can have no risk into the deal. the deal I'm talking about is a 12 story deal that we are working on. in columbus you can get downtown land for $400k that is about 0.22 acres right now with unlimited height and unlimited floor area ratios and build massive equity from joint partnerships.

When you buy, get a fixed rate locked in for long term.

Profits are not always guaranteed, so make sure you build a reliable team of agents, lenders, inspectors, and contractors.

So if your debt (consumer or mortgage) is above an 8%, then feel free to pay it down to lock in that return.

I have dozens of BRRRR's in this market and the biggest key to success here is 1 - finding sources that provide consistent deal flow2 - finding a contracting team that is reliable, communicates well, priced well, works in a timely fashion and most importantly has time for YOU.

Send me a pm and we can discuss further, I also have a reliable property manager  and real estate agent.

Hello BP Community, Hope you're all well, I am reaching out on behalf of a property owner who is seeking a reliable, experienced, and licensed HOA manager for her property located in Miami Springs, 28-unit condo.