Used an FHA loan as owner occupying with a 3.5% downpayment.

, also have a good lender if you need one for bridge loans. 

All this does is report their payments to the credit bureaus like how your credit cards or car loan company reports payments to the bureaus.  

I wouldn’t want to hold the loan for too long, so ideally it would be a 5 year term, presumably ballon payment at the end.

You will have to verify those yourselves to ensure you end up with correct operating expenses.Quote from @Andrew Newcomb: Just following up on this in case anyone is still following:I learned about "cap rate" and "cash on cash" metrics in the BP learning articles and watched a couple vids on the BP rental calculator showing how it calcs those metrics for a prop (you have to add the details like loan info, expenses, etc). very cool tool.

.✅ Talk terms, not deals – Discuss general loan structures, interest rates, and process.✅ Build a lender list – Pre-vet lenders before bringing them deals to avoid public solicitation issues.4.

It is easy to underestimate the timeline.It is easy to underestimate loan costs.

Fannie Mae (the Federal National Mortgage Association) and Freddie Mac (the Federal Home Loan Mortgage Corporation) are two government-sponsored enterprises (GSEs), established in 1938 and 1970, respectively.

Prioritize deals that offer steady long-term returns over ones that seem too good to be true.DSCR Loans for Growth:Debt Service Coverage Ratio (DSCR) loans can be a game-changer for investors who want to scale.

My plan is to buy the house subject to their existing mortgage, renovate the property, refinance it and pay off their remaining loan balance using the money from the cash out refinance.