All Forum Posts by: Charles Moore

Maybe. Just depends on if they can get full market value for it or not. It’s not a distressed property.

Hi, all! Looking for recommendations for RE agents in the Dallas-Fort Worth area. A non-investor family member has an owner-occupied SFH in Euless she's looking to sell this coming spring. The agents don't have to be investor-specialized. Thanks!

Thank you all for the feedback! Much appreciated!

Hi, all!


Looking for recommendations on Dallas-Fort Worth property managers who can also rehab a recently acquired SFH and get it ready for tenants. It's in Euless near the airport.

Thanks!

Thank you, all, for the feedback! I’m glad I’m checking before committing to this.

Hi, all,

Can anyone with experience in this help answer this question:

Will Lenders conventionally lend on a triplex zoned as SF in San Antonio?

Specifically, it’s a duplex with a separate 3rd unit on the property in the LA Heights neighborhood. It’s zoned as R-4 single family.

Would that be an issue if I wanted to get a conventional mortgage on it, or refinance later on if I paid cash for it?

much appreciated!

Thanks, @David Wolber! Yes please, I’d very much appreciate seeing your lease template just to get an idea of the language and general points to consider.

Thanks, @Charles Carillo!

How does your property manager remove cars for nonpayment? Tow truck? Are the cars then impounded?

Hello, all!

So I’m mulling over an opportunity to increase cashflow and wanted some feedback. 

Background is that I am househacking my own primary residence; I live on the bottom level of my split-level house and rent out three extra bedrooms upstairs to tenants whose combined rent covers my mortgage and all utilities. I also have an attached 2-car garage which I keep my own vehicle in. I’ve offered the second space In there to each of my tenants for their cars for $50/month, but they’re fine parking their vehicles outside on my uncovered gravel lot. So I have this second space I’m considering renting out as car storage to a non-tenant third party. My questions are:

1) is it standard to only allow access when I’m present? Otherwise I’d have to hand over a spare overhead garage door opener, and they’d have unsupervised access to my Personal belongings I have in there, like tools in my workbench, and could cause potential noise disruption to my tenants upstairs. I’d much prefer to be present to let them in to park or retrieve their vehicle on the rare occasion they do; is that standard in the car storage market?

2) is there a storage lease template anyone would recommend?

3) what remedies are available for non-payment of rent? Is it standard in garage car storage for something as extreme as taking Legal possession of the car, even with no key so you can’t start it?

4) what other questions should I be asking?

Any insight would be appreciated!

Thanks!

Can anyone recommend lenders who count income from house hacking in the their DTI calculations for refinancing the primary residence it happens in?

I’ve been successfully house hacking for the past year, renting out my three spare bedrooms and occupying the fourth, allowing me to live for free since the rent covers my mortgage and utilities. And I used to landlord other properties since 2013.

Now I need to look at refinancing due to divorce. But in talking to lenders, I learned they don't accept rent from spare rooms because it's in my primary residence, the reasoning behind which I don't understanding since that's an extra $2650/month in addition to my W-2 income. And with anticipated child support added in, just counting my W-2 income alone raises my DTI too high to qualify with all my debts total.

So does anyone know of any lenders who would count that spare bedroom income in my DTI for refinancing?