Turning condo into a rental after a recent refi?

[Tim Burk]

Hello,

Newer to REI with one SFR i purchased a few months ago, but am looking for more everyday. I myself am currently in a condo and ithe thought just came across me today that i would do great with renting out my condo with what i owe on it. This would take place of buying 2 less expensive SF homes and i would then just purchase a house for myself to live in, which is what i want anyways.

The question is i just Refinanced to a 15 year at the end of last year. I believe there was a clause saying i could not sell or rent for 12 months? Just trying to get clarification on this. If i were to find the perfect house i want to be ready.

Thanks!

[Keith Barton]

2 issues to look into:
1) Nobody on this forum can tell you what your mortgage says. Find it, read it, if you still have questions about a particular clause, feel free to ask specific questions about specific language; however, just because someone offers an opinion - it doesn't mean the opinion is right.

2) Look through your condominium governing documents to see what, if any, restrictions are placed on renting your condo.