• Lining up the Right Mortgage, Loan Options, Property Management and Refinancing

  • Sep 8 2022
  • Length: 15 mins
  • Podcast

Lining up the Right Mortgage, Loan Options, Property Management and Refinancing

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  • Summary

  • Hello and welcome to the episode! OK after inspections and getting under contract, our next step is to talk about mortgages. 

    We’ll be talking about what you put  down as downpayment and your goals for cash flow. 

    I’m going to explain one option for a loan available here in Utah at Mountain American Credit Union has a loan for 10% down with no mortgage insurance. It’s amortized over 30 years, but at 15 years it turns into a variable rate. The interest rate is between what you’d paid for a residential or inventor loan. Talk to me if you have any questions about this loan.

    OK once you have the property I strongly recommend hiring a management company. Their fee is 10% of the rent plus maintenance costs and I tell you, this is the best money you can spend. 

    I’m not a big proponent of the BRRR Method where you look to Buy Rehab Rent and Refinance. I plan my strategy around knowing what the interest rates are going to be long term, so that’s my opinion there, but I’d be happy to chat more in depth. 

    I’ll be sending out an email with the top 10 deals of the week each and every week. if you want it let me know by emailing me at duane@prex.com.

    Check us out at :

    https://www.primerealestateexperts.com/
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