All Forum Posts by: Jakub Bednarz

@Belinda Lopez Could you please pass me their contact information as well? Thanks in advance

@Michael Ran thanks a lot!

@Corbett Ekonomou do you have anyone who is working in the north part of houston?

BTW how do you guys make the @someone work?

Clayton thanks a lot for your input! 

Thanks @Nick S. I am sure the vacancy rate will depend greatly on the type of housing. So far in my personal experience, and my one property the 3% rate works out. But I wonder if that is just my luck or more of the area standard.  

I was wondering if anyone is using the 50% or 2% rule for the properties in North Houston area (Spring, The Woodlands etc). I am most interested in the 2% rule, and if it works out for this area, or does someone have a different number in mind that works. It seems to me that this area is closer to a 1%-1.5% rule. Just by running numbers on my current rental, which I bought a few years back, and has by now appreciated by approximately 37% since purchase, charging a fair market rent for the area, I am only coming up with like 1.2% test return (based on rent I charge now, and what I paid for the house the day I bought it). I wonder if you use this rule to vet the possible deals and what works for you? 

Also does anyone know what kind of vacancy rates can be expected for the North Houston area? Is around 3% a safe estimate?

Thanks for the update. Puts things into great perspective with the O&G slowdown.

You shouldn't have a problem, especially if you DTI ratio is low. I am actually in the process of doing that myself right now. One will be my primary residence and one an income property. The two year income seems to be set in stone. I have been renting one property for almost a year, and I couldn't include it, because it needs to be shown on two years of taxes. As of right now, they are counting that rental property against me. However, if you have been filing yours for over two years, you should be in the clear. Good luck with your purchases.

@Hattie Dizmond - thank you for the insight.

@Phil B. - In this case, the debt has been canceled, and all payments satisfied. Just been wondering how and if any loan is accessible, while having a steady income and some funds put away.

Anyways, thank you guys for the help.

Dear fellow members,

I was wondering what and if are there any reasonable options to obtain financing while someone is under business chapter 13. I have heard that, there may be possibility to get an FHA but only after 3 yrs after bankruptcy has been granted. That would be a loan for either single or multifamily home (duplex or so) with approximately 50% down. Any feedback much appreciated.