All Forum Posts by: Dustin Sanders

Hey BP,

I currently own 5 properties & I have a 6th property under contract which will be a STR. All properties have conventional loans. Of these 6 properties, I will have 4 STRs (currently house hacking my primary residence via AirBnB) & 2 LTRs. Each property produces great positive cash flow & I also work a W-2 job which helps for financing these properties.

I plan to purchase a 7th property (plan to house hack) either in late summer or early fall as my new primary residence. Even though each STR has positive cash flow, lenders still won't count STR income towards my DTI ratio. This almost killed the deal I have for my 6th property that I currently have under contract. Thank goodness I barely qualified based on previous tax returns!

My question is, has anyone had to forecast future rental income on their current house hack via a LTR lease (when I move out) & forecast future rental income for my next house hack at my 7th property (new primary residence)?

I hope this is enough information & any helpful feedback is greatly appreciated!

Dustin Sanders

Hey BP,

I currently own 5 properties & I have a 6th property under contract which will be a STR. All properties have conventional loans. Of these 6 properties, I will have 4 STRs (currently house hacking my primary residence via AirBnB) & 2 LTRs. Each property produces great positive cash flow & I also work a W-2 job which helps for financing these properties.

I plan to purchase a 7th property (plan to house hack) either in late summer or early fall as my new primary residence. Even though each STR has positive cash flow, lenders still won't count STR income towards my DTI ratio. This almost killed the deal I have for my 6th property that I currently have under contract. Thank goodness I barely qualified based on previous tax returns!

My question is, has anyone had to forecast future rental income on their current house hack via a LTR lease (when I move out) & forecast future rental income for my next house hack at my 7th property (new primary residence)?

I hope this is enough information & any helpful feedback is greatly appreciated!

Dustin Sanders

Hey BP, 

I currently own 5 properties & I have a 6th property under contract which will be a STR. All properties have conventional loans. Of these 6 properties, I will have 4 STRs (currently house hacking my primary residence via AirBnB) & 2 LTRs. Each property produces great positive cash flow & I also work a W-2 job which helps for financing these properties.

I plan to purchase a 7th property (plan to house hack) either in late summer or early fall as my new primary residence. Even though each STR has positive cash flow, lenders still won't count STR income towards my DTI ratio. This almost killed the deal I have for my 6th property that I currently have under contract. Thank goodness I barely qualified based on previous tax returns!

My question is, has anyone had to forecast future rental income on their current house hack via a LTR lease (when I move out) & forecast future rental income for my next house hack at my 7th property (new primary residence)? 

I hope this is enough information & any helpful feedback is greatly appreciated!

Dustin Sanders

@Benjamin Seibert @alex.bekeza

Are they able to lend on properties in Florida for the 80% LTV cash out refinance?

Hey BP,

I am looking to do a cash out refinance with my investment properties to go buy some more investment properties.

The best I've heard so far from my current lenders are 75% LTV cash out refinance for my investment properties. I've heard of higher than 75% LTV though that's only for primary residences.

Are there any lenders who you know that are able to do 80% LTV (or better) cash out refinance for investment properties?

Thanks,

Dustin

Hey BP,

Calling all lenders who can do 80% LTV (or better) for a cash out refinance on my investment properties to buy more investment properties.

The best I've heard so far in my personal shopping around is 75% LTV on a cash out refinance for investment properties.

Does any lenders offer 80% LTV (or better) that I can do a cash out refinance?

Thanks!

Dustin

I currently have 5 properties and wanting to scale to 10 STRs though my cash reserves are low. Saving up will take a few months so I’m trying to expedite the process since prices & interest rates are expected to jump up.

How have you sped up the process of saving up? All recommendations are appreciated!

Thank,

Dustin

Hey Paul, 

I know I need to stick to the plan which is to maintain my W-2 for some time as well. 23 STRs is very impressive!! Where are your STRs located?

Gotcha. Ideally, I'd like to have 1,000 STRs just like @tonyrobinson mentioned in your Real Estate Rookie podcast the other day though I gotta walk before I can run. Very helpful input, thanks Avery! 

@John Underwood

Joe, thanks for the feedback!

Do you mind if I DM you about loaning money? Eventually, I would like to do this to help someone else get started (paying it forward) and would like to hear about you experience as a private lender