Ep. 108 Elysia Stobbe: Post Election Update & 3 Changes w/ SFR Investor Mortgages

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investor mortgagesElection years always have the potential to inject uncertainty into investment and securities markets… this year has been particularly interesting and it should be fair to say that the result of this election ties an enormous “?” to the end of 2016. Market uncertainty has been reflected in recent rate rises for investor mortgages.

Elysia Stobbe, NMLS# 146751 is not deterred by uncertainty. Elysia is not only a mortgage expert with NFM Lending, but with over 30 properties in her personal portfolio, she is also an experienced investor. She has shared her expert advice on numerous radio and television broadcasts and has authored a book on getting the best investor mortgages. She has been following changes to investor mortgages closely and is finding flexibility and continued promise for real estate investing.

3 Changes to Investor Mortgages

  • .5% hike in mortgage rates driven 10 year treasury bonds post-election
    • e.g. $300k loan sees monthly increase of $90
  • Fannie Mae (FNMA) loan-to-value down-payment requirement 25% up from 20%
  • Multi-property SFR (up to 4 units) investors can hold up to 10 mortgages if purpose is to purchase investment properties

Other News

  • Cash-out options have been increased for investment properties
    • Shows improved confidence in property equities
  • Return of bank statement programs to bank portfolio loans
  • Recent rise of investor rehab loans
    • Investors can save cash while making properties rent-ready

Finding Financing

  • Lot loans
  • Mortgage brokers/bankers
  • Community banks
    • While they may not be offer as much community banks generally offer better terms than national banks
  • Big banks
  • Alt. options: seller-financing; hard-money

Contacts & Resources

EP11 – Florida Investor Overcomes Obstacles to Own over $1m in Real Estate

Pinellas Real Estate InvestorTony Montanez was stuck in the daily grind of his carpentry and handyman business, but he dreamed of taking control of his professional life and longed for financial freedom. He saw real estate ownership as the potential solution.  The problem, however, was that the downturn in the market had hurt his credit and it was challenging for him to acquire the debt necessary to make ownership of real estate in critical mass a realistic possibility. But, Tony did not let his dream die quietly. Armed with the skills he had learned as a tradesman and the willingness to network whenever and wherever, Tony set the wheels in motion.  Creativity and open mindedness helped this Pinellas County investor obtain success in a very short period of time..

Listen to how Tony overcame his personal obstacles to put him on the path to realizing his goals and dreams.

Check out this episode!

Show Notes:

Quotes:

“One of the worst things an inexperienced investor can have is good credit and some money”
“You can only do so much behind a computer.  Deals are done meeting with people.”

Favorite Florida Restaurant:

Bonaire – St Petersburg Beach – 36:30
Email 
tonymontanez.com
Tony’s Band – Big Moon Rocket