All Forum Posts by: Johnny Fullerton

Currently I plan on living in the 3rd unit, but would like to rent it out ASAP I don't want to ask the lender directly so I'll reread the mortgage agreement. Is it possible the lender could up the interest rate?

Hello guys I just purchased a 3 family house with 2 apartments with current leases and 1 vacant. The apartments don't have room to have washer/dryer so the hook-ups are in he basement for each individual unit. Currently only the 2nd floor has both a washer and dryer hooked up. I ultimately want to go to coin-op to help pay for some water. Now I was thinking since the other two units don't have a washer/dryer I could put a clause in the lease once it's UP saying only coin-op, but would that open me up to discrimination because I let one unit have their own or could I say they are grandfathered in or something on those lines? I also don't want to take the 2nd floors washer/dryer away cause that would consist of them having to sell it and they are good tenates I don't want things to go downhill. I just need some advise any would help thanx

I have just purchased a 3-family home as an owner occupied loan, how long do you normally have to live there before renting it out? Will the lender actually check on the status?