All Forum Posts by: Eunseon Kwon

@Carrie Matuga Thanks for your insight. We were able to find the tenants quickly. So, we ended up getting approval for the new house. 

@Jay Hurst Thanks. We try to avoid paying high-interest rates on the bridge loan. 

Thank you for your input. My agent has not said anything like this. We were told that we need to find tenants asap so we can get the mortgage from the lender. 

Hi all,

My husband and I are new to REI and are trying to learn from you all. Here's our situation.

1. Have an SFH. Try to rent it out. --> It will be the first rental property. The house will hit the market next week.

2. Tries to purchase a new SFH. It's more expensive than our current house. Have enough for 20% downpayment + fees+ and some more

-Because of DTI, we cannot borrow money (no hard money or private money) for the new house unless we have tenants sign the contract with our current home.

Does anyone have any suggestions?