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All Forum Posts by: Brianna M.

Brianna M. has started 11 posts and replied 42 times.

Post: How would you make the Pro membership more valuable?

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9

A few things come to mind: 1) It'd be great to have access to recent webinars in the archive. 2) A place for investors who are seeking partners. 3) A more robust app. For instance, it'd be great to use the calculator tools via the app.

Post: Debt to income ratio

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9
Originally posted by @Eric Veronica:

@Brianna M. In most cases a co-signed debt has the same impact as a debt solely in your name.  

Got it. Super helpful, Eric. Thank you. 

Post: Debt to income ratio

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9
Originally posted by @Shaun Weekes:
Originally posted by @Brianna M.:

Curious to know if taking on a conventional loan with a partner will help my DTI for the next property I want to purchase. Is partnering with someone a good way to lower your debt to income ratio? Or will the lender automatically make all mortgage debt count towards my DTI?

Any payment that shows up on your credit report will count towards your Debt to Income ration. DTI really should be called Monthly Debt Payments to Monthly Income Ration. MDPTMIR. Let's see if that sticks :)

At any rate if you partner on a deal just know that in the future if you decide to go at it yourself, you'll need to qualify based on your own income.

I hope this helps and have a good one.

 Hmm...MDPTMIR isn't quite as catchy haha. Thanks for the reply. This is helpful.

Post: Debt to income ratio

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9
Originally posted by @Dennis Folk:

Hi Brianna, you can typically add a co-borrower (even non-occupant co-borrower) and utilizes that co-borrowers assets, liabilities, income, etc to help get the deal done so it would then be a collective DTI, the whole payment would not count solely against your income.

Thanks for the reply. What about if I partner with someone for one property 50/50, then go to purchase another property solo...will the entire PITI from the first property count against my DTI for the 2nd property or only half? Let's assume I want to purchase the second property six months after the first property, so my rental income won't count as income.

Post: Debt to income ratio

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9

Curious to know if taking on a conventional loan with a partner will help my DTI for the next property I want to purchase. Is partnering with someone a good way to lower your debt to income ratio? Or will the lender automatically make all mortgage debt count towards my DTI?

Post: What to do about existing lease when buying a home with a tenant

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9

@Theresa Harris I actually was thinking of using the same PM...at least until the current lease ends in mid-2021. Is there a downside to this from your perspective generally speaking?

Post: What to do about existing lease when buying a home with a tenant

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9

@Nathan G. Thank you.

@Chris Coleman Ok, good to know. Thanks for the clarification. Does the tenant deposit typically transfer as well? And should this be indicated in the closing docs?

Post: What to do about existing lease when buying a home with a tenant

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9

The house is currently managed by a property management company. I want to keep the tenant and the tenant wants to stay until their lease ends in 2021. Do I need to have them sign a new lease? Or will the previous one carry over to me?

Post: Better areas to invest in the Greater Memphis, TN area

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9

@James Martin Hi James - would you mind sharing your map with me as well? 

Post: HELP I live in California

Brianna M.Posted
  • Rental Property Investor
  • Los Angeles, CA
  • Posts 43
  • Votes 9

@Jill DeWit

Thanks for sharing, Jill. Very interesting strategy. Curious to know how you go about choosing a good location?