All Forum Posts by: Brent Geubtner

There really aren't any comps where there are two houses on one lot in this area. My other thought is in the future, if I wanted to sell, I may have a hard time finding the right kind of buyer due to the finanacing complexities, which may mean me selling for less than expected. 

@Cliff Benner another option would be calling the code enforcer and seeing if you are able to subdivide the lot into two lots, each with one house. On my particular property, The yards would have been too small so I couldn't do it, but worth looking into

Thanks for the info Stephen! @Stephen Morales

Evan, talking to my ledner, he said for a situation like this, I would need to use a commercial loan. Is that the type of financing you used as well? @Evan Alterman

Hey Cliff, ARV is tricky because there are no comps in the area that can be used. So from what I understand, you calculate the ARV for each house based on comps for a single house with similar square footage, beds, and bath. Then and add the two together as a max value. My lender was telling me that due to the difficulties with financing properties like these (can't use a conventional loan for this according to him), properties like this usually sell at a discount. I think it would be wise to have an extra buffer, so if you usually buy at 70% ARV, maybe buy something like this at 60% or so. So that should be considered when calculating the ARV for the whole property because some people just won't buy with a commercial loan. @Cliff Benner

Does anyone else have a better method for calculating ARV?
 

Thanks for the reply Theresa!

I'm looking into a property that has two seperate houses on the same single lot. Is this a tax advantage over having two lots (one for each property)? I'm figuring that paying for one lot is better than paying for two in terms of taxes. Are there any other implications to having two houses on one lot that I may not be considering?

I've been renting out a bedroom in my primary residence since the start of 2023. I'm looking to get a loan for my first non-owner occupied rental property but my current lender is telling me my debt to income ratio is too high due to my student loans and mortgage. He is telling me the border income I am getting from the house hack does not count as income to help outweigh my debts. Is this true? Is it maybe because this income hasn't been captured in a full year's taxes yet?

@Trent Dues I drive by there all the time actually. Good to know, I'll check out their page. Thanks!

Thanks @Jeremy Taggart and @Nicholas L. if I get off work in time I'll make the drive down and check it out! I'll take a closer look at Beaver county ACRE too.

Are there any investors in Beaver County that would be interested in getting together to connect, share ideas, network, and possibly even form partnerships?

I'm currently house hacking and trying to get my first non-owner occupied rental. I know there are networking groups like ACRE and Pittsburgh REIA but I get the feeling that I'll be paying a membership fee to get talked at for a couple hours which is not what I'm looking for. If there are any other like-minded investors out there, maybe we can get something new (and free) started!