Rental property investors – know this, (I get this all the time) , unless you are using a “pure stated” – meaning. Gross rent with vacancy factor should cover PITI by about 20% ..So your loan amount needs to cash Flow. Even though we may offer up to 80% LTV , the rent may not be sufficient.
Higher end properties dont typically cash flow well.
Home prices continue to climb in already-expensive Seattle, but investors with enough cash to get into the city’s landlord business could see big returns