All Forum Posts by: Jay Hurst

Hey y’all,

I'm a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I'm not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC). Here's some context:

Property 1: >$100k in Equity

Value: $325k

Debt: $220k @ 2.88% (30-year fixed)

Property 2: >$70k in Equity

Value: $325k

Debt: $252k @ 3.38% (30-year fixed)

Extra considerations:

- I have $15-20k liquid to use for any of these deals

- My current job is relatively stable, but not high-payin

- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)

- No other debt obligations besides the two mortgages

Ultimate goal/timeline:

Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two years

I understand that any/all replies aren't financial advice; all ideas welcome for information purposes. 
Cheers, 
F. 

I think I misunderstand DTI for rental incomes.

My DTI goes up with a cashflow positive rental ($2000 expense and $3,500 income). I used the 75% rule on the income and added it and my DTI without the rental goes from 24% to 38%.

Or does it just allow me to just take the net profit of that rental and add it to my rental?

Hello,

I'm starting my BRRR investments in San Antonio, TX market. I'm off-state investor, located in Bay Area, CA

Looking for Real Estate Agent, contractors, lenders connections.
Ping me!

What is a “seasoning requirement”?  Thanks!

Moved to Austin for work and purchased a home in 2021 with just under 4% interest rate. Due to circumstances at the time I was able to put 0% down without PMI. Fast forwards to 2025 and I need to move again for work. Since purchasing the home, housing market in my area has declined about 20%. This puts the home underwater.

I've calculated the following two options:

1. To sell the house, it would cost me about $60,000
   out of pocket.
2. To rent the home, I would lose about $2,500 per month (based on comparable rents in my area, property management fees, etc).

Both options loose the same amount by roughly 2 years, and by this time, I still will not have built up much more equity in the home to make selling it a break even unless there is price appreciation by then.

My dilemma is this: I speculate that my home will not appreciate much in the next 3-5 years due to the rapid pace of development in the surrounding area.

In 5-10+ years, maybe, but by then I'll have bled $150,000 - $300,000.

I have thought about this a lot and feel that I mar'-too close to the problem to see the best solution.

Any constructive advice would be much appreciated.

 This again. Or what happens when you get asked on the URLA if you have any other undisclosed debts lol. "I'll just gloss over that. They wont find out."

 I would be thinking about future loans as I plan to do purchase another property soon after. Whereas he would be good with this for a while. What I'm aiming for are turnkey rentals and trying to max out the amount of conventional, lower interest loans.

If you do a DSCR loan and vest it in an entity - you and your partner can both PG the note and it will report to neither of your credit reports, thus having no impact on your DTI!

 What would be the best way to go about it then? I make about 70k a year from my salaried job and my friend makes double that. I'm trying to make it so I'm on the deed/title and not the mortgage.

I know the income side would be effected with the dti I was just wanting the debt side not to be. The net rental income should be about 65% more than the mortgage.

Hello, everyone!

I’m new to the community and I’m planning to start a Section 8 rental property business. I’d love to connect with experienced landlords and investors who can share advice on getting started, selecting properties, and navigating the Section 8 process. Any guidance or tips would be greatly appreciated! Thanks in advance for your support.