All Forum Posts by: Chris K.

Hello everyone,

If I purchase a second home , and use it as short term rental property as well, am I eventually taxed on capital gains, even if gains are under 250k? Or is it the same taxing as a primary residence?

Thank you!

When getting conventional loan, how far back will lender look for personal income?

Because of coronavirus my income is down 35% in the last year which may affect my loan amount or will lenders take these circumstances into consideration?

@Andy Mirza this is helpful thank you I will check this out thank you

@Terrence Evans yes sorry for the obvious mistake. But you could still calculate the loan mortgage minus the interest , correct?

Hi everyone,

Why is the loan pay down not calculated into coc roi? Meaning, if I have tenants (short term or long term) where the cash flow covers my mortgage payment?

I will use basic example to help clarify.

Down payment of $20,000

mortgage payment is $1000

All Expenses (capex, utilities etc) : $500

Monthly income $1,550

Positive cash flow of $50 monthly x 12 = $600 annually

600/20,000 = 3% (bad roi)

But I am also building equity with loan pay down of 1,000 monthly so should I not be calculating this into my roi technically????

That would make $12,600 annually. And if it’s not calculated into roi, why is it not?

Thank you!

@Nathan G. Thank you

@Paul Sandhu thank you!

@Theresa Harris

Let me clarify.

Instead of having a mortgage on my primary home, if I just sold it and started renting a home (no mortgage) I would then be able to qualify for an investment property mortgage (in another state) if the debt to income ratio is better because I do not have any mortgage....

Hi everyone,

I currently have a mortgage on my primary residence.

If I were to sell and instead rent a home (even if rent is similar amount as mortgage plus annual property tax), does this make it better for my debt to income ratio to apply for a mortgage on an investment property ?

Hi everyone,

Is there a good "ask" checklist to ask realtors about information about an investment property before purchasing, specifically for STR purposes ?

EG of Standard questions: how old is the roof? Etc.

Is it normal to ask of the age of all appliances ?

what other majors answers besides Hvac, roof, pool resurfacing, pool pump, would it be smart to know the answers too besides purchasing?

Thanks in advance!