All Forum Posts by: Alana Higgins

Hey @Serena Halterman, is this still on? I’m a Los Angeles-based investor and would love to meet up. Thanks!

Hi BP, I'm looking to purchase an out-of-state property that is currently a single family home, and rent it out long term, so not an Air Bnb or anything short term. I'd like to use a Second/Vacation Home Loan to save on the downpayment (put down 10% instead of 20%). One of the requirements of the Second Home Loan is that it must be a 1-unit property (which it currently is), however I have plans to convert it into a duplex. Is this violating the loan agreement if I purchase it as a SF then convert it later? Thanks!

Reach out to Bailey Choy (Instagram @makeithawaiire and phone 808-282-7288). She's a Honolulu-based real estate agent, real estate investor, home stager, and furnisher. She'd be happy to connect.

Hi @Dennis S. I just came across this post and wanted to check in about your experience with Shelter, as it has now been a few years. I am under contract in KC and shopping around for coverage. Curious if you stayed with them and can speak to the whole experience. Thanks!

I live/work in Los Angeles, CA and want to purchase a SFR investment property in the Inland Empire (1-2 miles east of LA). This is my first home purchase and I'm having trouble qualifying for a conventional loan with 20% down, even when I use future rental income to help my DTI ratio. The limiting factor is my current living expense. I currently rent a 3 bedroom house with two other women and we split the total rent. Even though my portion is only $1200/month, loan officers have advised that I will be liable for the entire rent of $3400, pushing my DTI way up. Is there an easy way around this? I've considered 1) using a different lender, 2) asking about DSCR qualification, 3) talking to my landlord to ask if he could write me a separate lease agreement.

Thanks!!