re: Information for my fellow Real Estate Investors

Are you looking to buy this as a OWNER occupied or NON owner occupied?

MOST traditional lenders who have mortgages backed by fannie/freddie for 30 years at a fixed rate require 20% minimum DP for non owner occupied properties.

If you do not have all the funds see a private lender or collateralize something. For that price point that is not enough PCF monthly for me, maybe for you. Sure, great COC return but it hampers your cash flow obviously putting so little down. 200 PCF is my BARE minimum and ONLY for cheap properties(to which I have not had to use or do yet). My bare minumum at my current price points is 350 PCF monthly. I own a property at the same price point as this one you are talking about and I get 800 a month PCF. All my COC returns are from the 20s to 30s so far. That is because i have put between 20% to 25% down on all of them. a major maintenance month or long vacancy definitely could hamper those returns.

I see you have put PMI so I am guessing this is a OWNER occupied that you plan on renting?

Use up all conventional mortgages fannie/freddie allow you before going elsewhere. After that it is either private lending with high down payments with high rates and short terms or cash buys or partnerships or roll them all into an S-sorp and start all over again with fannie mae.

GOOD LUCK!