All Forum Posts by: Daniel Ferster

@Chris Wheelus

Great info! What part/neighborhood of Portsmouth was this in?

@Thomas Baylor

That area where the property your talking about is pretty rough. Portsmouth is hit and miss. If you’re not familiar you might want to target a different city.

@John Williams

I did not I pulled back for now and am waiting till 2021 due to some other circumstances.

Before COVID-19 we were seeing lenders offer 75-80 LTV on a 30 year cash out refinance. Lenders are now doing 65%. Does anyone have any true insight (not a guess) on when we might get back to previous LTV's?

@Chris Mason

Yeah the issue is she’s only been back for 7 months so nowhere near the 2 year mark

Hey everyone! Thanks for taking the time to read! If you think this post should be in a different category let me know.

My wife works part time (Monday - Wednesday) as an engineer bringing in about 60k a year. Her job is very stable she used to work for the same company for 11 years before taking a 2 year gap. This year we want to house hack into a multi family. We’ve been told by most mortgage companies they won’t consider her income which obviously affects what we can/can’t purchase a lot!

Going back full time is not an option at this point.

Can anyone recommend a mortgage company, broker, or bank that would include her income?

We live in Virginia if that matters.

Chesapeake, Suffolk, Portsmouth, Virginia Beach, Hampton, Newport News, Norfolk.

As many of us are aware the HEROES Act is being voted on in the house on Friday. Part of the legislation states that you can not evict a tenant for non payment of rent for 12 months if this bill is passed.

What is everyone’s thoughts on this bill coming to fruition as currently written?

How do you plan to handle this if one of your tenants decides to not pay rent for 12 months?

@Mark Miles

I’m open to def managing through vrbo or some other service. I guess my question then would be what’s the biggest challenge coordinating with a cleaning service?

I’m looking to buy a vacation rental on Lake Gaston. I love about two hours away so I would need someone to do the property management.

Does anyone here have any suggestions on who to use?

I would be looking to rent it out as much as possible.

@Taylor Hudgins No I haven’t I’d appreciate his contact information! Thanks!