All Forum Posts by: Joseph H.

I agree with @Jaysen Medhurst. Call around to your local lenders. There are few lenders that will loan that especially now. You can still pull the amount you have invested and a little lot with 80% according to your numbers. 

https://www.investopedia.com/t...  This is what I found. I have never heard of this but is an interesting way to transfer ownership of a property to family. 

Are you in an area that requires you to have wooden windows to fit the “decor” of the neighborhood? IE: historical housing? 

I have a property I am currently refinancing and had an appraisal last week. This is in Missouri and started the process about a month ago. That may be why it was okayed?

How long has your rental Ben producing income? Financial institutions count 80% of the rental income towards your income. If your numbers are off on a rental it may be hurting you. Next option is to pay down the debt and refinance to show a lower DTI.

I have bought and converted one yes (Kc,Mo area). Consider meter options for utilities. Do you want separate meters or are you going to pay for utilities? We did two separate breaker boxes for each unit but pay for all utilities and add $100 to the rent for utilities. Seperate entrances are a must. The options are limitless. Reach out if you want to know more. 

@Bryan Lyde I had a split unit installed in the top of my duplex and the unit cost around $800. 

I agree. The challenge of thinking outside the box to make a deal work is a constant. I just finished closing on a deal and planning another. I am looking at Building a storage unit and rehabbing a house next. It is a lot of juggling but worth it in the end. 

@Andrew Postell has a great article he wrote on how to cash-out-refinance. 

If you are going to build a shop you could reside the windows in the shop. Have you ran the numbers for finishing the 5 bed and building a small shop in the back?