All Forum Posts by: Alexander Rotolo

I owe about $80k on my double, and it’s worth roughly $150k, maybe more. I’m considering selling the double for a rehab duplex or tri. After agent fees, I think I would have about $50k to put down on a fixer-upper plus whatever I have saved up for the rehab. The goal is a sizable down payment lowering mortgage and increasing monthly cash flow. What do you guys think?

@Shawn Michalski

I’ve been looking for this. Would love to connect!

-Alex R. Buffalo

@Michael K Gallagher That makes sense, thanks!

@Michael K Gallagher That sounds like a reasonable idea. I'm talking to a mortgage broker this week about refinancing options. I wonder if switching it to a conventional loan might solve that problem.

I house hacked my duplex with an FHA loan. My fiancee and I want another rental to expand our portfolio. We are willing to house hack again. Would I qualify for another FHA loan if my first property is not entirely paid off yet? We have lived in this property for over two years.

-Alex R. Buffalo NY

@Dave Foster well put, thanks!

@Jonathan R McLaughlin Makes sense, pay off more of the principal and hold or generate more of a down payment if I decide to sell/ exchange for a larger unit.

@Daniel McNulty its tough situation. I do like my apartment, but I am getting married, and I know my soon to be wife won't want to house hack forever. Selling and upgrading (1031 or traditionally) seems like a good idea, but my mortgage is so cheap now I’m nervous about letting go of the property. I still owe about 93,000 on the house.

@Kyle A. Thank you for the contact!

@Kyle A. I keep hearing about the 1031 option. Have you done this personally? What are your thoughts?

-Alex