All Forum Posts by: Ayyoub Feza

Quote from @Robin Simon:

Quote from @Ayyoub Feza:

Hi, 

We have one loan for my house under my name, another loan for a rental property under my wife name. So if we want to buy another rental property who do you suggest to get the loan? Myself or my wife? We have same credit score/history.  Any suggestions/opinion will be appreciated. 

Regards

Going to depend what route you go through (conventional - or DSCR with an LLC etc.) also I believe what state you are in matters - states can vary how they treat marriages and guarantor / requirement rules

Hi Robin, thx! This would be for buying rental property. For Dscr with an LLC, the lenders are ok to give this type of loan to an LLC? For conventional loan, our previous lenders did not accept it. 

Quote from @Andrew Zamboroski:

Quote from @Ayyoub Feza:

Hi, 

We have one loan for my house under my name, another loan for a rental property under my wife name. So if we want to buy another rental property who do you suggest to get the loan? Myself or my wife? We have same credit score/history.  Any suggestions/opinion will be appreciated. 

Regards

Hey there, nice to see someone in my local area! Are you looking to use a conventional loan? If so, who has a better debt to income ratio to consider? Or as others have said, you could use other financing and buy in an entity.

happy Friday!

Hi, thx Andrew. Same here, happy to see a local investor. This would be another rental property. Not sure what are other options but was thinking about conventional loan. Both of us more or less same income  debt ratio. What are other options? Any learning material link/book/video I can go through to learn more about them? 

happy Friday!

Hi, 

We have one loan for my house under my name, another loan for a rental property under my wife name. So if we want to buy another rental property who do you suggest to get the loan? Myself or my wife? We have same credit score/history.  Any suggestions/opinion will be appreciated. 

Regards

Thx Kenneth! That makes sense.

We did not reduce the rent anymore and the property already rented at the price we advertised. It was first property we rented , great experience and we are learning from this experience. 
not sure about the other property with $500 below market that one is off market from Zillow not sure if it is rented or sth else. 

The market For the property is for young professionals with may be new born or toddlers, or people in their 40-50s. No kids for school, and no university students. It more depends on job. Agree, October missed the warm season but still is not winter. 

Hi, quick question, Do you recommend to sign lease with tenant for 12 months and then month-to-month, or 18 months lease? I am in this situation that end of 18 months will be October 1st, is that good time frame for renting market?

Thx,

Hi, 

For move-in costs, do you recommend to add cleaning fee as refundable fee or none refundable fee? I wonder what’s your experience and advice. Thanks for sharing in advance. 

Regards

Thanks as always for great advice. For now, we will wait and monitor the market in the area. 

Hi, 

If a rental property come to market with $400-500 lower than market and be close to your rental property that you posted one week back, what will you do? What would be your strategy? Now that property takes all attentions, I cut rent by $100 but still cannot compete with that price. It is same for all other rental properties in the area, same situation as mine. For now I try to just wait till the goes off market. What do you think?