All Forum Posts by: Avery Bernstein

@Kyle Deutschmann Thank you!!

We have decided that the family and I will not be following him there...and we're not sure that we can find a house/mortgage for less than what we are currently paying for his AirBnb...but we would sure love to try!!

He is still very open to hacking.  Any contacts appreciated.

Thank you!  Avery

Ugh. You're not wrong. I think our dilemma is...if we sell this...we have nowhere to go. And we've never really seen a reason to sell. It's paid for. As is...worth about $85k (what we paid) We would love to find some way to use house #1 as collateral in the purchase of House #2. (In school for construction/real estate...so BRRRR is the long-term plan)

And roll into more properties.  I'm not saying it well...use House #1.  

Unfortunately, we do need out of House #1.  Neighborhood is not "bad"...not what we need.  It's a trilevel, and we have a kid in a wheelchair. Yada yada.  But it's not a bad house.  It has all new appliances/systems (we have lived here 15 years).  But it needs paint.  Finished floors.  Just stuff.  

And it's stuff we don't want to do while we live here.  So..that is probably the biggest reason we would love to go ahead and find House #2 (found 2 great possibilities) and move.  Then fix up and rent.  And due to income potential, turn it Sec. 8.  Would pay for the mortgage on House #2.  

My husband and I own our current home free and clear. It needs work (mostly cosmetic) to bring it up to par in order to rent. It will rent as a 4/1.5. About $1000-1100 in our market. We have attempted to get a HELOC for debt consolidation and to finish our current house. Bank turned us down flat. No negotiation. No lower number. Nothing.

We would like to move out of our neighborhood and buy a "for now house". Goal to live in it for 2-3 years...and then move...rent/sell that house.  Long term plan to accumulate assets/income-producing property.  

We both have crap credit scores (600ish).  He now has a great job.  VERY good salary for our area...except the job is out of state.  I have found a house in our size/price range (locally...we are not going out of state).  Needs updating...not the issue right now.

Would you buy House #2 with conventional mortgage?  How would you fund repairs on original house (rental)?  We have this huge hunk of equity sitting here...and can't find a dime.  

We need #1 mortgage for new house/eventual rental/flip.  And money for fixing house to rent.  Help please.

Thank you!

avery

The Husband has moved to the area with his new job, and we are looking to connect with others in the area.  Our 4-month goal is to find a place to purchase and let DH "house hack" until we are in a position for the rest of us to move up there.

Right now...I'm grasping at Zillow. (hangs head in shame)

Avery

This was such a great "learning experience" thread.  THANK YOU!

Avery

@Joe Norman thank you!

Seeing what we're seeing now...they make a whole lot more sense.

DH hasn't been there a month yet...and so we were just on the hunt for the moment.  Once I am able to start traveling up there at the end of the month, we are going to work on connections.

Thank you!

Avery

To the gentleman who FHA'd his property...you can FHA a rental?

Financing (or lack of) is holding us back.  

Thank yoU!

avery

We are looking for a duplex in Maryland for my DH to live in one side and to rent out the other side.

I feel like I’m striking out. Roofstock doesn’t cover MD.

Any other favorite sites?

Avery

We are looking to buy a 2/1 for my husband to live in at his job out of state.  He would intend to AirBNB the other room.

We currently OWN our house...with no intention to move soon.  How would we even go about financing such a venture?  Is it a regular mortgage?  

Thank you!

Avery

My husband has taken a job out of state.  We OWN our house, and do not intend to sell when our boys and I do move (at some point in the future).

DH is currently staying in an AirBNB and coming home on weekends.  We are discussing buying a duplex (or regular house) and having him live on one side and rent/AirBnb the other.  HOW do you go about this?  Is it a regular mortgage?  An invenstor mortgage?  Would our current home come into play?

Thank yoU!

Avery