You may have heard some of the buzz in the news about a qualifed mortgage rule rolling out in the begining of January. I want to try and dispell some of the rumors because the media as always makes this sound like a big deal. The fact is Lenders are already doing this and its business as usual. QM requires lenderst to do things like verify income & assest. Bascially QM is 10 year late and is being put into place to help prevent some of the loans that were being done back in the mid 2000’s. Check out this short video about QM. Also here is a link for Uncle Sam’s FAQ on the topic. QM FAQ
Working with home buyers searching for a new primary residence is a totally different game compared to working with investors and rental property. Sure, there are similarities, but what want-to-be home owners care about is different than what an investor cares about. Frankly, for an investor, it’s all about the money and it should be. When someone purchases a rental property they are essentially running a business. If we can help them run a successful business and turn a profit they will likely come back and buy more properties.
There are lots of want-to-be investors out there and the hardest part is getting started. We are going to help unravel the maze. We will also look at long term planning. Often just knowing what needs to happen to acquire the next property and the next one after that is one of the keys to success. Owning rental property can be a great way to build wealth and we are here to help.Visit Jeremy's Blog