All Forum Posts by: Jesse Rodriguez

I'm a few months in with houshacking a duplex.. I used a FHA loan on a house purchased at market value. Did about 10k total on renovations for both units.

Can I do a cash out refinance after 6 months, take equity out and use that to purchase another property (conventional, non-owner occupied) while still house hacking? Also, I really doubt I'll get up to 20% equity (property in the Midwest) to get rid of PMI but should I refinance to conventional too? If successful, do I still need to live in the property if under conventional loan and not yet met the 20% equity.

Secondly, I travel for work. Can I rent out one of my second bedrooms on Airbnb whether out for work or even at home?

I hope someone can shed light on this. Thank you!

@Natalie Kolodij I need to look into this. What if he doesn’t fill out an w9?

I have a property in need of rehab. I know of a guy who is really handy and can do everything I need for a more affordable price except that he is not a licensed contractor. He also said he into accepts cash. He is not a shady person, I know him and his wife. Will paying cash this affect taxes and write offs?

@Christian Vaquero Thank you, I appreciate it!

@Christian Vaquero I’m trying to tell myself that

@David Bain Maholo!

@Jon Kelly Great points, thank you for the reassurance!

@David Bain Thank you! I’m trying to get over this mind battle with myself.

Hi everyone,

I have my first property and began the renovation process. I am deferring to contractors for the job. The property is comestically distressed and needs a bevy touch up.

I’m really nervous because I keep asking myself, will all this money I put in be worth it? Will I actually get my money back from a cash out refinance? Am I spending too much? What if no one wants to rent out?

Has anyone else felt the same?

@Rebecca E. Have you used vinyl sheet before?