All Forum Posts by: Aaron Grant

@Stephen E.  or any of you landlords.  Have you used part of your house/utilities as an office and deduct it as an expense as a landlord.  What the cons of doing that?  Do you lose homeowner's property tax exemption benefit? 

@Joseph Leonard  Do you know what percentage of the value of your condo is used for depreciation base amount?  

What's it like to be a landlord who rent out condos?  What are the pros and cons?  

How has your experience be?  Was it easy to rent them out?  

@Shuree Sorurie  I agree.  High condo fees make a lot of condo not worth investing in.  

@Russell Brazil  @Felipe Ocampo

If someone has good credit (over 780) and good income and be able to buy a home. For this first house, he put down 20%. A year after that, he is able to buy another home based on his income and credit, and this time, he only put down 5%. And he leases out his first home while moving into his new home. Now, he has one investment property and one home. But, at this point, he has stretched his savings and debt limit by acquiring these two houses within two years.

I guess he can repeat this process again and again, but, let's assume he wants to buy a third house 45 minutes away in another town where the return on investment is better. Naturally, he doesn't want to move there due to the long distance to work. How can someone like that be able to obtain a loan with low down payment for this third property in anther town?   (say lives in Gaithersburg, but want to buy in Frederick).

@Felipe Ocampo  How was the inspection?  Did they come in and check round before approving it?  I wonder what the consequences are for landlords who don't have licenses?   

@Russell Brazil Is there a reason why the Germantown rental market is hotter than Gaithersburg?  

Fritz, could you elaborate?  

Hi Russell.  What's your thought on the Frederick market.  It looks like one can get a townhouse for $180K, with a mortgage of sub $1,000 and be able to rent it out for $1,500.   

If someone has good credit (over 780) and good income and be able to buy a home.  For this first house, he put down 20%.  A year after that, he is able to buy another home based on his income and credit, and this time, he only put down 5%.  And he leases out his first home while moving into his new home.  Now, he has one investment property and one home.  But, at this point, he has stretched his savings and debt limit by acquiring these two houses within two years.

I guess he can repeat this process again and again, but, let's assume he wants to buy a third house 45 minutes away in another town where the return on investment is better.  Naturally, he doesn't want to move there due to the long distance to work.  How can someone like that be able to obtain a loan with low down payment for this third property in anther town?