All Forum Posts by: Jennifer Z.

Yes, your household income is taken into consideration, but a larger pot of income means greater loan amount approved.  Also, you could get mortgages in just your name and your wife could get mortgages in just her name (if you each get 4 that's 4 more mortgages to qualify).  Banks definitely lend easier with a stable W-2 income, so I plan on keeping my job as long as possible to get my boat closer to the dock before I jump ship.

Welcome Nathan!  I also plan to use rentals to teach my son life skills, business management, and making your money work for you.  Happy Investing!

@Christine Mwai totally agree!  In Texas, I sold a home without an agent using forms from the title company (may not be available in all states).  Also, if the buyer is financing, then their agent/loan officer will go through all the processes for the inspection, appraisal etc.   Lean on a good title company for your side of the sale.

@Account Closed that quote made me laugh!

@Gulliver R. I think it depends on how long it will take you save up for the apt complex down payment versus getting started now with a duplex.  Would you be able to upgrade a few duplexes (1031 exchange) into an apt complex sooner than if you strictly saved the money?  Also, if you are comfortable with finding other investors to purchase the apt complex, then you could fast track the path to purchase.  The market prices in the area which you are buying could make a difference too.

If construction in your area is similar to the coast, then I would look for a rental for sale.   Our construction comes to a halt in the rainy months and it is hard to line up contractors, so your timeline is too short to build.

 Thanks for the info Marianne!  On the coast here, water cisterns are common and hard to finance.  Thankfully, our appraiser wrote up the details like a well for the loan to go through.

Welcome to BP!

Semiconductor industry- sounds like an interesting profession. After selling a SFH in the Austin area, I moved into a 2 family property here in Oregon. It is a great way to start investing and pay down your primary residence:)

Thanks ya'll for the feedback!  I appreciate all the input.

Hi Rachel, sounds like a great way to start your investing.  Your knowledge of property management could be useful for the site too.

Welcome to the site!  I'm your coastal neighbor and I recently got involved with biggerpockets too!