All Forum Posts by: Charlie Miner

 Thanks, Ryan! Great advice. I will make sure to check with my lender on what an acceptable reason would be.

 Thank you for the feedback, Andrew. Yes, I have qualified for the second mortgage without my current property being fully rented. I plan to check with my lender to be certain on the requirements but that is helpful information to know. 

Hello,

I purchased my first house hack September 1, 2022 and moved in immediately (day of closing) with an FHA owner occupied loan. I understand the requirement of needing to live in the home for a year before being able to fully rent out. I will be doing that, however my question is directed towards when can I close on my second house hack? I am beginning the house search process for property #2 and am wondering, is the earliest I can close September 1, 2023 (exactly 1 year later of initial closing/move-in date) or can I close any sooner? The reason I am looking to ideally close sooner is to start slowly moving in the new house while still maintaining my current property as my primary until 9/1/23. I am talking a matter of closing August 1 at the earliest as I do not want to be paying two mortgages at once.

Thank you in advance for any feedback or advice.

Hello, I have an existing tenant who wants to break their lease. The lease (I inherited) states they are still responsible for any remaining rent obviously. My initial thought is to ask them to be out by X date and would be responsible for any rent up until the place is re-rented out again. Is this a strategy others have used? If so, are there any legal documents that should be signed for my protection? Any other feedback or advice is appreciated. 

Hello,

I close on my first property (house-hacking a duplex) Sept. 1 and the lower level tenant is in a current lease through 4/30/23. I've reviewed the existing lease that I'll be inheriting upon closing and all seems to look good. What other steps might I need to take to do my due diligence? i.e. obtaining new security deposit, general tips and advice, etc. Any sort of checklist or books that one might recommend to a first-time landlord? Thanks so much! 

I'm looking to purchase a duplex with an owner occupied loan and rent out one half while claiming the other half as my primary residence. I say this as I would be looking to airbnb my unit ideally 2-3 nights a week. Am I still an owner occupying the home if I am living in my unit half the time? Thanks for any advice/feedback.