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Updated 11 months ago,

User Stats

6
Posts
1
Votes
Thomas Waymouth
  • Property Manager
  • Hot Springs AR
1
Votes |
6
Posts

Navigating DTI & Turning our Current House into an STR

Thomas Waymouth
  • Property Manager
  • Hot Springs AR
Posted

Hello All and Thank you in advance! 

We currently live in Hot Springs Arkansas and my wife just accepted a position in Jacksonville Florida. I bought two luxury STRs in the beginning of 2022 and they had fantastic revenue for a year and a half until one of my partners needed to get out and we sold them for a good profit in October 2023. 

Are there lenders who will consider my past str track record when determining Debt-To-Income ratio in regards to turning my current house into an income producing property?

It would be ideal for us if we could buy another house in Jacksonville, (possibly do a house hack there), and keep this property as an investment property. It is currently on a conventional loan with over 20% equity. I was looking at the possibility of doing a FHA loan in Florida. I have 800 credit and can put down a nice amount.

Any and all advice will be much appreciated!

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