All Forum Posts by: Nicholas Jasmine

i would not do this. Here's the reason your primary residence is just that "your residence" I would not tap into anything that could jeopardize that. For your first rental save some money to get into it.

i deal with a property manager and let me tell you I love it. It takes away from the landlord having to worry about tenants, legal contracts, evictions, and etc. Yes it cost me 10% but I think this is well worth it for the job they do.

i got a question about this. How do you show proof of twelve months rental income? Ate the banks just looking for statements saying you were paid? Or would the tax papers be sufficient?

yes I agree selling is the better option out of the two. This is the same decision I had to make when I moved out of my first home. My decision was to rent it just because we were over the 1% rule. If not we would have sold as well.

the courthouse can give your information ex. Owner, property state, taxes, etc. This is where I would start.

im looking to buy my second rental as well and I've learn its probably best to have the Money saved somehow or to maybe use your profit from the first rental property.

i appreciate the hospitality @robert Leonard

i live in the Alexandria area and I just jump into the rental game. I'm looking to buy another rental property in Louisiana.

keep in mind starting a llc is really cheap. If you have multiple properties I think this would be the way to go.