All Forum Posts by: LaQuan Bates

Is it possible to have a Freddie Mae Homestyle Loan on one home and a Freddie Mac Renovation Loan on another home? What are the guidelines? Two questions I can’t seem to find the answer to.

Is it possible to have a Freddie Mae Homestyle loan on one home  and a Freddie Mac Renovation loan on another home/ Investment property or Vice Versa? What are the Guidelines? Two questions I cant seem to find the answer to anywhere. 

@Bill Hampton thanks man appreciate the Insight!

@Russell Brazil thanks Russell!

@Ned Carey thank you for your insight!

@Raymond J. Rodrigues thank you for your insight! Are Multi-Unit properties eligible for Fannie Mae Homestyle loans?

Hey BP Family, 

I am currently looking into Multi Family properties as well as single family homes with finished basements in the DMV area and plan to possibly rent out the extra units/rooms and also use Airbnb. My question is should I hire a Cleaning Crew to clean between Airbnb stays? I work a Full-time and Part Time Job so I get home around 10-11pm on average every night. I could do it myself but would it be more logical to hire a cleaning crew? If so whats a good average price for a cleaning crew for a finished basement or full apartment? Lastly, should the cleaning crew be responsible for the key swap between stays or should I invest in a keyless pad and change the code between stays? 

Hello BP Family,

I plan to get a Pre-Approval soon to better understand the price range and types of properties I should be looking at for my first House Hack. I recently moved to the DMV from the Midwest(Go Bears!) and just started a Full Time job working in IT. I also just secured a Part-Time job to speed up my saving process for a downpayment on my first home. I originally wanted to go the FHA route but after talking with a agent and really weighing my options I am now leaning towards a conventional loan. The question I have is, will Banks take into consideration a Part-Time job in regards to my DTI? If so how much weight does this Part-Time job hold and can it really make me a more qualified buyer?

Hello BP Family, 

I plan to get a Pre-Approval soon to better understand the price range and types of properties I should be looking at for my first House Hack. I recently moved to the DMV from the Midwest(Go Bears!) and just started a Full Time job working in IT. I also just secured a Part-Time job to speed up my saving process for a downpayment on my first home. I originally wanted to go the FHA route but after talking with a agent and really weighing my options I am now leaning towards a conventional loan. The question I have is, will Banks take into consideration a Part-Time job in regards to my DTI? If so how much weight does this Part-Time job hold and can it really make me a more qualified buyer?

@John W Evans thank you so much for the insight! I think my plan is to Start with House hacking and scale into the BRRRR strategy.