All great answers thus far. Lending guidelines have tightened considerably; as I am sure you are aware. What makes it more difficult is you really want to put 20% down. The reason I say this because with rentals the goal is typically to cash flow them. If you donâ€™t put down 20% you are going to pay Mortgage Insurance and thatâ€™s going to cut into your bottom line. Couple with that interest rates I have been seeing lately for investment properties are upwards of 8%. Another thing to consider is a lot of potential investors are getting stopped at the door because they do not have the required two years landlord experience. With that said, if 20% down is do-able and the landlord experience is there, I know there are still some attractive programs out there to reward you. I would look into an investor like CITI Mortgage. If you would like me to contact their wholesale department for you, I would be happy to assist.
I hope this helps. Great questions and best of luck.
Yes there are still options out there to finance investment properties. As some of my colleagues have noted previously the requirements are tighter and the lenders are requiring larger down payments on these properties. However, there are some fantastic values down here right now. The bank owned properties are priced at around 2001/02 levels now.
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I work with investors who have been taking advantage of the market times and purchasing REO properties then leasing them out for positive cashflow. If I could be of assistance in your investment purchases, let me know.
I'm not sure exactly what you mean. Flow of Mortgage Money? There are still mortgages available for investment properties. The criteria is a lot stricker for obtaining an investment mortgage.
Is that what you mean?