BUT, if buying a new investment property you can use 75% of the appraiser determination of the new property.If on the tax return, you can use short term rental income OR long term income.

Congratulations about buying your first rental property!

You aren't ready based on what you said.NJ is one of the toughest flip market in the country now (Northern) because the prices to buy the dumps is high because inventory is low so the spread is too little for new flippers.

Investment Info:Single-family residence buy & hold investment.

Hi Rebecca, DSCR Loans are a great tool, depending on your goals this is a doable deal. 75% LTV is possible.The rate is not going to be pretty, but you can buy you down to a 1 year prepay, get your credit up and with rates dropping, refinance once again in 12-24 months.

I'd offer to buy the tenants dinner and a movie on his behalf.

Buy your next deal using a traditional mortgage and your own name.

Investment Info:Single-family residence buy & hold investment in Tampa.

Investment Info:Single-family residence buy & hold investment in Lenoir City.

You need to have enough money, probably in the $100-150k, amount to put the property under contract, and do the feasibility study on the property, Phase 1 Environmental, Property Drawings for roads, water sewer, and utilities, and have a completed budget so you know what your costs are.At that point you can go out and attract investors, I don't thing that developing raw land is necessarily cheaper than buying discounted finished lots.