All Forum Posts by: Luca Mastrangelo

Hi Everyone, my sister and her long time boyfriend recently moved to NC and are purchasing their first home.  She is qualified for the loan by herself and he is currently in the process of changing jobs so is currently unemployed.  The house is $400k, they are going to put down 20% and get a rate of 3.5%.

Should they take the loan together or under just her name?  They both have excellent credit and no other mortgages.  They may be looking for another mortgage or business loan within the next 5 years.  Any reason to preserve his "1st time home buyer" status?  Pros/cons? Thoughts?

Thanks in advance.

rental income ianjyst for my property. It's both units in the 2 family. Net income for that property.  

Since I am in MA now I don't really want to take on more real estate at this time. I'm more inclined to park it in a conservative index fund and let it grow at 7% with zero work. 

I also do think the property will appreciate more in the next few years as a high end development is coming online just IP the road in the next year or so. 

Woulsnt I save 15% or more on tax savings if I sell within the two year window from the this was primary residence?  What's the rule on counting this as a primary residence and avoiding capital gains?  Could offset any growth i d see 

hi all. Looking for some insight on my situation. I own a 2 family unit in CT and recently relocated to MA. I'm considering selling. I currently owe $150k on the property. Sale price was $229 and it wld sell for somewhere between 269-309. My monthly obligation is $2100. Im going onto year 10 of a 15 year loan and my rental income is $2000/month.  Now that I am out of state I'm less inclined to keep it because of the additional money require to have a property manager show the property etc..  ( 1 months rent is the fee in CT).  

Since it was owner occupied recently I could save on the taxes. My fiance owns a property as well in CT that is a SF home that is easier to manange. We're getting married this year so well have that for some tax write off. 

I make about $100k/year and shr makes $70. Will our income/status change to married this year impact the potential sale?

Thoughts/advice??

thanks for the info. My property is not quite cash flow positive but due to the 15 year loan. I'd rather pay down now and cash out a bigger Delta later. My fiance's house is cash flow positive. 

Our strategy is to hold the properties.  However witbt he capital gain consideration it may be better to sell them and do something else with the capital. Either way, were both going to hold them for now. 

Ultimately how does that impact our ability to get a new loan on our new primary residence?  

Our plan on new residence is to put 6% down   make improvements and refinance a year later at increased value. 

Hi all. New to the forums here.  I just relocated to Cape Cod and my fiance and I just had an offer accepted on a house and need help figuring out what the best financing option is. 

I currently own a 2 family unit in CT that is fully rented.  Its got 10 years left on a 15 year mortgage. Its a conventional primary residence loan since it was owner occupied through 2014. 2015 was the first year that the property was fully rented.  

My fiance owns a 2 bedroom cape in CT that was her primary residence until we moved a couple months ago. It has 25/30 years left of a conventional loan.  The house is now currently rented under a lease for the next year.  

I'd like to keep my current 2 family since Im entering the accelerated portion of the mortgage pay off terms and also keep her 2 bedroom cape since its in a desirable location and should be easy to rent going forward. 

What should we do?  We will be getting married this year.  Will getting another "conventional" loan on our new primary residence be an issue?  Do we have to convert our individual former primary residence loans to commercial loans?  Should we be looking to sell this year to avoid capital gains?  What's the rule there, 2/5 years?  What else should we be thinking about??

Is it possible to put in multiple offers on different properties at the same time?

What if at the time of purchase the home you were buying appraises for greater than 120% of the sale price, are you still liable for PMI?

hi all. I'm looking for a spreadsheet that would help me analyze several properties that I am interested in as an owner occupied situation. Some of them are single families with a potential for an airbnb or studio and some of them are in laws with potential rental income. I browsed  the file section and not sure which template one would be best. Im looking for something that would have inputs such as sale price and potential rental income  and future sale price or growth and costs associated with rehabbing or fixing the property. Anyone have an idea or advice?