“Want to Become an Investor?”
Hi Joe,
Thanks for taking time to chat today, for sure you are an expert that I can learn from. I'm specifically interested in a lending product where I can:
1) purchase a non-owner occupied investment property (with my own cash or hard money)
2) renovate the property (with my own cash or hard money)
3) rent property to tenants ( manage myself or sub to prop manager )
4) refinance the property with at least 75% LTV and 5% annual interest payments
5) Once refi is complete, repeat process
Many want to become real estate investors, but I can tell you first hand it isn’t easy and isn’t not for everyone. If you’re just starting out, you will need a lot of coaching.
I recently did a refinance for an investor in Florida that had high interest rate mortgages on all his properties. The rates ranged from 11% to 14%. He was not interested in selling. He was strictly interested in owning long term. I was able to get him a 6.63% 30 year mortgage and his cash flow went through the roof.
Image courtesy of StuartMiles/freedigitalphotos.net
