All Forum Posts by: Aron Schlabra

Im looking for recommendations on what programs or software is the best for managing my properties. I have 5 SFH right now and looking to continue to grow. Looking for something where I can get tenant screening, Background, Rent payment collection all in a one place.

thanks in advance BP! 

Hello BP

I am in the process of buying my first multi family property with an FHA and plan on house hacking. Since I already own multiple single family rental properties the underwriter for the loan is requesting a good reason in writing why we are going from a single family home into a multi family unit. I haven't heard this before and was wondering what a valid reason and underwriter would consider for this scenario? I do feel like we have some valid reasons such as reducing our housing expenses in order to pay off other debts, and downsizing because we had family members living with us previously that no longer do.

Has anyone else ran into this before and what reasons did you provide that were approved by the loan underwriter?

Thanks in advance

@William Nelson I use Joe De la Fuente with REMAX for 2 of my properties in Brownsville. Never had any issues.

Thank you everyone for your imput. All really good info! I will be reaching out to different lenders in my area to see if I can find any portfolio lenders. 

@Jennifer Goodier We have been living in homes for a year and then renting them and moving on to the next. However right now I have the capital to buy an additional strictly investment property. That is what im wanting to do since we cant buy another primary residence until July 2021. Would rather put my money to work now than just hold it for 6 months. I have looked at Owner Finance options but havent been able to find one where the numbers make sense yet. 

Hello BP, I am having trouble expanding on my current portfolio. I am not getting approved though any lenders and Ive spoken with 8 different companies. The problem that keeps coming up is my DTI doesn't meet their standards. I have heard that lenders will count the rental income as earned income that should help my DTI? Any tips on how I can get around this? Right now I currently have 3 properties, 2 SFH rentals and my current residence. Any financing tips would be appreciated.

I have decided to expand my investment portfolio OOS and have zeroed in on Memphis due to its proximity to myself, cash flow potential, and cost of entry. I was curious to know what zip codes other investors in this market are targeting and why? I am looking for more B neighborhoods for buy and hold investments. Any insights are greatly appreciated!