All Forum Posts by: Jennah Sontag

Hi everyone. Does anyone have any recommendations for good contractors serving the St. Louis area who are available to take on new projects of various sizes? 

I recently learned from a lender that because I don't have a primary (not plausible in the near future), I can't count 75% of rental income from rental properties as income toward my next loan...this is a new rule that came about in 2020. I was told if I file a Schedule E with your subsequent tax returns, after two years of tax returns they would be able to count my Schedule E rental income toward your total income for qualification purposes. Can anyone confirm this? Does this mean I can't count rental income on a particular door until after I've filed for 2 years? 

Let's say I purchase my first door with a conventional loan. Then to get my 2nd door, is it better to finance with another conventional loan or get a line of credit by borrowing off my first property (then get a line of credit from my 2nd door to put toward my 3rd door and repeat the cycle)? I don't understand the risks involved with either approach to know which is better. Thanks for any insights!

Hi there! I'm new to investing and am trying to decide the best first step for my first investment. I'm considering multi-fam, SFH, turnkeys, or a large SFH with a high appreciation rate. How do you decide?! Is it better to build a portfolio with as many smaller investments/more doors as possible, or one larger/single door investment? I'm not in a position to do any house hacking or invest in a primary, so I'm considering alt. strategies. I wish to invest in other states, not locally (MO), across the midwest and south. Thanks for any advise you have to share!