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All Forum Posts by: Andre Houston

Andre Houston has started 9 posts and replied 42 times.

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

Thank you so much it makes since doesn't seem like a good time to do it I guess it's time to get more creative an not capp myself out I appreciate the information 

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

Thanks I appreciate it  I'm only house hacking my primary house the other 2 were bought as investments since it was 5 years ago they were purchased they were cheap enough to get another loan 1 was 200,000 the other was 300,000

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

Thanks I appreciate it  I'm only house hacking my primary house the other 2 were bought as investments

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

Thank you so much I appreciate the help

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11
Quote from @Sergey A. Petrov:

@Andre Houston check out this thread for some local lenders you can try reaching out to!

https://www.biggerpockets.com/...


Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

My Tacoma house mortgage is 1406 an I'm charging 2300 a month making 853 an my federal way  house my mortgage is 1644 an the rent is 2300 they both cashflow over 1500 

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

Thank you so much for this information what is a DSCR loan ?

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

@Andre Houston also I'm in the Seattle Washington market

Post: Advice on portfolio loans

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

Hello my name is Andre Houston I am a real estate investor. I have 3 properties so far 2 rentals and 1 primary. I bought my first house 5 years ago for 200,000. I bought my second property 4 years ago. My primary was purchased 2 years ago. My first property is probably worth 250,000 and I owe about 194,000 second property I paid 300,000 and its worth about 523,000 an I owe about 275,000 and my third property I paid 500,000 but I refinanced it because I basically turned it into a duplex it's a split level home I'm renting my downstairs out but I owe about 514,000 an it's worth 834,000. I have been working for 9 years my credit score is about 775 I'm on a medical leave right now so I'm not able to show income but I have so much equity in all three homes do you think I could get a portfolio loan for just my rentals I don't really want to add my primary in it unless I have to or what other options do I have since I'm not a w2 worker right now. Thanks for your input I know it's a long post but I just wanted to make sure I put all the Information out.

Post: Building a kitchen downstairs in my 2 level house

Andre HoustonPosted
  • Rental Property Investor
  • Renton, Wa
  • Posts 45
  • Votes 11

I purchased a 2 level home 4 bed 3 bath so it has 3 bed 2 bath upstairs an 1 bed 1 bath downstairs it also has a like a rec room downstairs I am thinking about putting a kitchen in the rec room an renting out the downstairs my mortgage is 2900 I paid 500,000 for the home its estimated to be worth 710,000 on redfin I'm trying to cover some of my mortgage by renting out downstairs my question is if I had that kitchen downstairs can I do a cashout refi to get my money out of the deal its going to cost me about 13000 to do it plus make a door downstairs because there isnt a entry way downstairs also I wanted to put a washer and dryer upstairs because they have one downstairs so it would be like a 1 bedroom apartment all in at about 17000 can I consider this the brrrr strategy an refi after it's done an get my money back out to reinvest in another deal?