I understand it can be very difficult to get a mortgage for that low, i was wondering if anyone in here can help me out!

Even if you purchased your home at the very tip-top of the market before they dropped by 19%, if you would have simply paid your mortgage payments, mowed your yard, and stayed in the house for 6 years (you had to live somewhere during that time), you would have made money on your home...and that was the worst drop recorded.

I kept meaning to buy for a few years, but I’ve been simply overloaded with a startup.My current country prevents me from purchasing property (non-citizen), and doesn’t offer fixed rate mortgages - the floating rate is high rate at 7%, and has been about this the last 20 years.

The problem is that the mortgage is only about 42% of the purchase price.

30 year mortgages?  

I’m thinking about luxury condos for short term rentals since I’d occasionally want to have a place I can use for myself.With mortgage rates so high and HOA fees for many of these buildings at around $1k a month, it seems like investing in a condo in Miami is more of a game of price speculation.

There is many sites online now happy to provide a tenant a FAKE paystub.

Where do you get the money to pay for the mortgage for those months it sits empty?

CA House 1 rents for $2,310 my mortgage is $1,362 @ 6% ARM.

From my understanding right now seems like not an ideal time to get in with mortgages being high and rent being low.