Veronica Dagher

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3,082 appearances 51 recordings 1 series first heard Sep 2017 last heard Jan 2025

Veronica Dagher’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Want to Become a Landlord? Beware the Headaches and Expenses · 19 Dec 2022 podcast

And of course, if you're a renter, you know that very well yourself.

But due to inflation, so are the costs of repairs and routine home maintenance for a property you may own.

Yes.

Investor loans are more expensive than your typical 30-year mortgage that you would get on your primary home, for example.

So investor loans, you're looking at interest rates in the 10% to 12% range, depending on the type of the loan, the term of it.

And that's up from about 7% to 9% earlier this year.

When you apply for a mortgage on an investment property, buyers need to put a larger down payment than they would for a primary or vacation home.

And they are probably going to face stricter lending standards.

Well, it includes higher minimum credit scores.

So you're looking at at least a 700 credit score, a more desirable debt to income ratio.

And then typically, you need to have much higher cash reserves on hand than you would if you wanted to buy just a primary home, a primary mortgage.

If you're putting more down and your rate is driving up your monthly mortgage payments, then you're under a lot more pressure to keep that property fully occupied.

And some people say, oh, that's not a problem these days.

There's so much demand for renters.

Yes, but because of these mortgage rates, you may not be able to recoup your costs because you can't necessarily raise your rent to infinity.

You have to be able to keep up with the market rates in your neighborhood.

So you can't just charge whatever you want

To make a profit, you need to keep up with what's happening in the market so you keep your property occupied.

That's right.

So you need to factor in rising repair and maintenance costs.

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