Where to you all get loans? My broker is coming back with 7.8% for rental property. 20% down for 39 years. Time is sensitive I know he’ll get it done but just worried going somewhere else will slow things down. He did my other rental property no issues. I was hoping to get interest below 7%. Anyways just want to know if it’s worth the hassle or just go with it then refinance in a couple of years if rates drop.

like
Posting as :
works at
You are currently posting as works at

Im buying a rental but it won’t cash flow until rates drop. Might be stuck with little appreciation, break even for 1-2 years. But right now we can negotiate price down. When rates are down I probably can’t negotiate price. I got 22k off asking. In my case I can live there for a year, or try to get an exception with the lender sooner to rent it. My rate is 7.12%, 30 year, no points. Hoping to refinance in 24 months at 5.x% I won’t break any rules, I’ll actually move in for the lower rate.

like

Cashcall. Assuming you're well qualified, they'll beat any rate and close in under 30 days

like

Bankrate or find a local credit union in your state.

There’s almost no chance of getting under 7% for an investment property. But you can refinance when rates come down after the economy finishes tanking

like

30 year fixed

OP: is this loan for 3 or fewer residential units? It sounds as if this is a mortgage loan as opposed to a straight up commercial loan. I’m refinancing a commercial property because I have to (loan maturing). I’m seeing 6.6%, 5-year term with 28 year amortization. (It was 4.75% in 2019.) Even then I just missed the initial COVID rate collapse, but no one could’ve predicted that. Or the way the government responded to it, causing interest rates to soar.

Kindly contact me if there is need for funding.

jacewilliams.sbc@gmail.com

Related Posts

For new hire who’s struggling, will going back to office actually makes things better and easier?

like

Hi all,
I am currently working in infosys as Devops consultant with 4.4 exp and looking to switch company. Can anyone refer me in tcs ?

like

Newly freelance and struggling to set a rate. GCD, 20 years of agency experience. Any insight ? Thanks

I recently graduated with a degree in Finance but feel like I want to work in a tech related role and wish I would’ve gotten a CS degree. I work at a SaaS company built on Salesforce and was wondering if certifications would be enough to be considered? I’m looking at Business Analyst or Product Mgmt

like
like

That couple who asked for cash for their mortgage downpayment at their wedding is getting a lot of shit but I feel like that's honestly really smart. Why not ask for what you really need? Especially with prices how they are and only getting worse.

like

Hello, I have accepted an offer at a competitor company and sent in my resignation letter. My start date is 5 weeks from now so I put in my end date 4 weeks from date letter was signed. The manager said I had to leave the job in 2 days and the company can only play 2 weeks of work. Is it normal how they do that?

likehelpful

Do you think partners in law firms have too much power and autonomy? eg. the power to refuse leave, to do your annual appraisal, to make you work while on leave, to overwork people, to manage the team on their on terms etc. Is this power bad or good for the firm and the team overall?

Related question - Do you think the HR in law firms are just there for show since the partners have a lot of power and autonomy?

like

Hey Fishes!
I'm new to this app, and looking forward to making the best use of it. Need 11+ likes to get started though. Would really appreciate your help, thanks!

like

What can I except a product manager role interview questions to be?

like

Anybody have any tips on how to go about the relocation conversation? I’m looking to move out of the city with our main office to a city with a much smaller office. With post-covid office culture I can’t imagine it’s that big of an ask. That said, I’m in a junior role and have been with the company for less than a year so I don’t know if this is a question I should really even ask at this time.

like

Hi there!
Searching for suitable job opportunity. Please let me know if you're or your fiends , company has an opening

I have experience in working as executive assistant to managment and strategist.
Searching for roles similar to these roles and responsibilities.
My total work experience is 5 years 3 months. I have worked in various High growth business domains

Please DM me if you know of any suitable opportunities, thank you

like

What does everyone think of proposition 122 on this year's ballot? Do you think it'll pass?

like

Hey everybody. Got laid off at D. BTA within strategy and analytics. Mostly LS/HC experience. Anybody can help out with a referral anywhere? Thank you!

like

Hi, received an offer from another Big4 in Amsterdam (currently working in Eastern Europe), but relocating, I’m concerned about potential layoffs in the coming period being the last to join the team.

What is a go-to-market strategy?

funnylike

Any SFCC Architects or Tech leads looking for a change? I have an urgent requirement in my team. Please DM for more information. Thanks

like

Hello Fishes,

What will be my monthly in-hand salary ?

Post Photo

Do any brand teams have a good agency briefing template and process you follow?
-Any tips on getting the best creative solution from your agency?
-Do you have any specific criteria you look for when selecting an agency?
-Do you prefer ‘one stop shop’ or specialists in their fields? If the latter do you do separate breifings?

like

Additional Posts in The Real Estate Bowl

Better mortgage vs. Rocket mortgage - anyone shopped with both and what swing your decision?

like

For those that built higher end homes, what kind of appliance budget did you have?

like

Closing on a condo soon. Need to get 1 accent wall painted and one laundry bifold door installed. What’s an average cost to expect for this. I got quotes for 2000$, seems steep. Any recommendations for contractors in chicago area?

like

How do you judge a low ball offer with how the market is changing? Earlier this year, you would look at comps and say this is the value. Now with rates going up and people pulling out, how do you justify the value? (View point from the buyers end)

like

Hey everyone, curious about pros/cons and profitability of renting out a unit long term vs AirBnB. Let’s say it’s a condo downtown in a big city, how do you figure out what’s the better option?

like

I would like to learn more about development and real estate. Can anyone recommend any books or courses that you think are informative. Eventually I would like to own a few apartment buildings, but I know there is a lot I need to learn 1st. Any advice appreciated. 

like

We just moved into a 50 year old house. We got the popcorn ceiling removed in the garage plus had the walls done. We didn’t use an official asbestos expert because of the price.

The horrible, dirty people that lived there before us left us a crappy mess. Hope we are not exposed, nor the neighbors.

like

Please help! Do these fees look within normal range or are they too high? I am especially concerned about the title company fees!

Post Photo
like

Wanting to move from NYC to either Austin or Tampa. Open to hear the pros and cons.

like

Hi - any good books recommendations for getting started on real estate investing?

like

My assumption is that one makes money in RE with leverage. So, would you never let your equity in any given property get above certain% (I.e re-leverage and invest elsewhere) or would one eventually want to own a property outright?

like

Is this the right time to buy a house as a primary residence. Everything is above listing price and going up on a weekly basis. What is your recommendation, be on rent for another year or two till the time property price go down or buy a house and save money on rent. Aprox budget is $500k and renting a house for 2200k per month as of now.

like

I have over 12 years in B2B sales/sales management experience along with a graduate degree. I am wanting to shift gears and I am at a point where I can invest time in myself to learn through practical experience. The new industry I am wanting to pursue is real estate investment. I have read all the books but want some hands on experience on the property management side. How could I best leverage my skills for a role in this, and what should my expectations be for negotiation in compensation?

Bought a 300k end unit townhouse in Atlanta, 14 months ago with 10% down (3.65% interest rate). Prices in subdivision have been increasing over that period. This month 2 non-end units listed for 330k and sold right away. The opposite end unit on my 5 unit building was listed for 340k and is currently pending. What is the best way to stop paying PMI since since I should be at 20% equity?

like

For anyone that has bought a townhome from Lennar, are the walls fairly well insulated for sound?

What, if any, were your main complaints?

like

Anyone know the average annual rent increase for 1200 sqft 2 bedrooms? I’m renting and want to know what to expect in a few weeks

like

Buying a new construction single fam house in PA suburbs. Already Signed the contract and Looking for a lender with lower interest rate. Anyone come across comparable lower IR lenders? Any insight is appreciated! :)

like

I'm a first time home buyer and got pre qualified back in Jan. Hard pull on credit docked me a few points. I wasn't able to close and now considering another hard pull for a different mortgage company offering better rates.
I'm new to this and this may be a stupid q but I'm looking for input from the bowl on whether to do this hard pull and get pre-qualified with a few more mortgage companies. Any advice is appreciated. Thank you

like

2.75% rate + $2000 lender credit for 30-yr conventional in Austin. Is this good??

like

One way to invest in rental properties is paying the downpayment and any renovation costs using saved up cash. I know folks also use HELOCs. So you'll end up with 2 loans. When do you pay off the HELOC? Personally I dont think taking out a HELOC is a great idea. What other strategy do you use to invest in rentals?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal