All Forum Posts by: Darryl Ribeiro Sr.

I've been an Electrical Contractor for 31 yrs, installed over 5 megawatts, done fuel cells, turbines etc. I don't have solar on any of my buildings. Making the building energy efficient is much higher ROI. It's not sexy work though.

If you do go solar, buy it. Go with mico inverters and monocrystalline panels. Avoid string inverters and optimizers.

Warranties are only as good as the company behind them.

Use your search engine & type in Solar Company bankruptcies.

@Darryl Ribeiro Sr.  200k in equity. Nice. Think through what could reasonably go wrong and make sure you can make it through that. If you can, then a 3% down house hack could make a lot of sense. @Kyle Spearin is a knowledgable house hacking realtor in your area. It may be worth connecting with him. 

@Darryl Ribeiro Sr. - If you guys are in a tough situation and are both in agreement I don't hate the idea of switching out a SFH for MFH house hack; a MFH will however carry additional expense and time with the added income. I would also visit with a loan officer and go over all the risk factors of loan approval for a MFH in the markets you are considering assuming you will need to sell prior to being pre-approved.

Selling doesn't sound right to me. Her DTI is too high, which indicates her financials are not completely under control and you may make the same mistake with a new purchase. I would increase earnings, reduce expenses, hustle, save up, and then buy another property to occupy with just 5% down. This allows you to keep the first property which probably has a low interest rate. And if her finances are under control, then you can cash out some of that equity and invest it, which will jump you to 3+ properties.

I feel like I'm stating the obvious, but what does the DTI look like if you are also on the loan?