Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

7
Posts
0
Votes
Brandon Warren
  • Savannah, GA
0
Votes |
7
Posts

Lease STR to my LLC to improve DTI

Brandon Warren
  • Savannah, GA
Posted

I purchased a primary residence just over a year ago and lived in it for the 1 year I was required. I've now turned it into a STR and am in need of another primary residence. My problem is that the first house is still on my DTI and I can't claim the STR income right away. If I was to do a standard long term lease then I would be able to use the lease payment to help offset my DTI and get approved for the next home. I'm wondering if I was to lease my home to the STR business (LLC), could I use that lease agreement to offset my DTI? Is it going to be a red flag for the bank when they see my signature on the lease agreement on both lines? My wife will not be on the loan for the next home as she has no income and is 50% owner of the LLC and could sign the lease for the business. Maybe that'll be less of an issue/red flag? Is this illegal? Is there another strategy I don't know of?

Any assistance is appreciated! Thanks!

Loading replies...