Financing for rentals - Posted by Jason

Posted by Shaun on February 27, 2006 at 20:58:19:

read research read and then research some more. talk to a good broker and see where you stand from a loan stand point first so if you have to work on some things, you can do so while you read. when you are confident, go for it.

Financing for rentals - Posted by Jason

Posted by Jason on February 26, 2006 at 15:13:18:

I’m convinced the best investments in my town would be in long term rentals. What are my options in obtaining financing for these properties? My town has ridiculously cheap properties that would bring in rental rates at 5 to 6 times the estimated mortgage. What strategy should I take to secure these properties. I’m a recent college graduate, mid 600’s Fico, not much money for down payment. I’m anxious to began REI. All criticism and responses are appreciated.

Thanks

Re: Financing for rentals - Posted by al

Posted by al on February 27, 2006 at 09:25:35:

if you have done the home work then i say try get one property and see that goes. If the rent is 5 time the mortgage payment it a no brainer. One question is if the properties are low why is the rent so high.