All Forum Posts by: Diwas Sherchan

Hi Scott E, thank you for your advise. 

Hi Andrew Garcia, thank you so much for your advise. We won't qualify for FHA loan to buy another property because of the tax. What is net rent loan?

Hi Alex Breshears, thank you so much for your advise. I will definitely check the Flynn Family Lending. I did some calculations and it did not make any sense to get this house as investment property which start at $875k for 1960 house that need some kitchen, bathroom update. 
my thought was to rent our current house as a investment property and buy other house as a primary resident using equity of our current house because we won't qualify for a loan to buy a house without using equity. 

I have been looking to invest on a second property using my equity of my current house but I cannot close the deal because of all the competitive cash offers.
one of my neighbors house is about to go on a market next month. What would be the best way to close the deal and I know they will get a lots of offers. 
couple of months ago I got a pre approved loan for $100k DSCR loan with LTV 75%.
one option i was thinking was to convert my current house into two units and rent both of them. Buy my Neighbour house as a primary resident. can I still use DSCR loan as a down payment and all the other cost? Do I need to show DTI for my new primary house? Do I need to show my tax for 2 years since I'm small business owner? I'm curious if anyone has some creative idea? Thank you all and love to hear your advise.