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Updated almost 6 years ago on . Most recent reply

User Stats

53
Posts
13
Votes
Silvia Ochoa
  • Real Estate Agent
  • Dallas TX
13
Votes |
53
Posts

About to be homeless with 100K... Next step?

Silvia Ochoa
  • Real Estate Agent
  • Dallas TX
Posted

I am about 2 weeks away from listing my live in flip. I expect to come out with 90-100k. I obviously need some place to live so I hope to find another live in flip AND buy a rental. I want to do the most with my money as possible. Credit score is great and I will have cash but what is the best way to use my leverage. I hope to find a house that meets 203k guidelines as my live in flip or at the least use FHA loan for the 3.5% down payment. But what type of financing should I use for the rental? Would I have to find the FHA property 1st in order to avoid issues w/ DTI? Anyone with a great mortgage company recommendation? Thanks for any insight!

  • Silvia Ochoa
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