All Forum Posts by: Horacio Gutierrez

Hello,

When it says you can use 75% of your rental income to report as income when applying for another home loan. Is 0.75 multiply against what is charged for rent for the month or is multiply to the cash flow I get after I subtract all expenses such as insurance, taxes, and paying the existing home mortgage?

Thanks,

Horacio

Hello,

Say I did the BRRRR strategy on my first home and repeat it into my second home, third home, etc, however does there come a point when banks wont refinance a home for me anymore, say after my 4th home or do the banks dont care as long as the home was paid off when I first bought with private lenders money and only refinance to take out money to repeat and pay off the lender loan?

Hello,

When it says you can use 75% of your rental income to report as income when applying for another home loan.  Is 0.75 multiply against what is charged for rent for the month or is multiply to the cash flow I get after I subtract all expenses such as insurance, taxes, and paying the existing home mortgage?

Thanks,

Horacio

Hi Harjeet,

So the benefit of buying a home all cash over using buying conventional to buy home is you can refinance less than 6 months? Also, I'm assuming the only type of loan I can get for the BRRRR strategy is a conventional rental property loan?

Thanks, 

Hello,

Can the BRRRR method still work fine if you don;t buy the home all cash. For example can I get a bank loan to buy the property with putting down 15% and then fix it up and finally refinance it?

Thanks, 

Horacio

Ryan,

In your opinion should the buyer send directly the payments checks to the lender or should you make out the check to lender name and have the seller give the check to lender because its his loan?

Hello,

I was wondering can a buyer sell or refinance a home that has been "subject to" were the seller couldnt make the payments anymore. Will the lender of the seller permit the buyer to sell the home or refinance it to pay the lender back?

Thanks,

Thank you so much, for your response Mike, I really appreciate it. My last question regarding this topic can the buyer sell the home or refinance with another bank or will the seller lender not let the buyer do that into its gets its final full payment?

Hi Mike,

What if the seller can make the payments after the buyer stops making them, is there a way for the seller to keep making the payments to the bank without having the title of the home and later on selling it or does the home just go into foreclosure? 

Hello,

I have question in a "Subject To" home sale I know the deed is giving from the seller to the buyer meanwhile the buyer keeps making the mortgage payments to the seller's lender, however say the buyer cannot make the payments anymore does the seller automatically get back the house title if the buyer stops making the payments or would the seller need to take the buyer to court to get back the title of the home?

Thanks,

Horacio.