All Forum Posts by: Lucas Hammer

Nobody is telling tenants not to pay rent. They halting evictions during a crisis as well as foreclosures in a lot of places but both owners and renters have to pay for every day they live in or own a property. 

Cheers everyone, thanks. We'd be looking at conventional if the DTI worked out in our favor. We're buying a SFH right now that we may be moving out of in a year or so, so I'm trying to work any and all exit strategies into my planning.

So my DTI is approaching 50%. If I decide to buy another house while selling mine, will I have to close on my sale before buying for it to not count towards my DTI?

I got mine through State Farm since I already had car/life/personal article policies through them. Got a pretty good rate. I'm adding umbrella insurance this month since I'm moving out of my house hack and into a SFH.

I have to add to Little Village. Research the area and make sure rents make sense. In a lot of multiunit buildings in the area, you'll be looking at potentially 400-500 rents with families that have been there 20 years.

Hey everyone, quick question. Do any of you use designers for floorplan changes that don't cost an arm and a leg? We might be closing on a place where we'd want to remove a bedroom and put in a bathroom/closet, but I don't have the expertise to make sure that the design makes sense and that it'll help resale value. I've seen options for online designers at a reasonable price, but if I could find someone local that won't kill my budget, I'd like to go that route.

Thanks for the ideas, guys. I'll be looking into a few of these ways. I was doing everything myself, but with personal things going on and my day job, sometimes it just makes more sense to hire things out so they get done faster. Just trying not to kill my budget in the meantime.

Sorry, to clarify, I was thinking unlicensed labor. Things that don't involve hvac, electric or plumbing. 

As the title suggests, where do you guys find your non-skilled labor? If I buy a bunch of vinyl flooring and just want to pay someone to install it, where do I find the people to do it?

Im also thinking of things like paint, fencing, etc. I keep finding larger contractors, but I feel like if I have all the materials, it should be easier to find people that can just lay flooring, paint, etc. 

So I have an FHA Title 1 loan on my current two-flat for some work I had done here. Is there any rule saying that if I buy a new primary I can't have a second Title 1 loan? I'm assuming it'll be fine, but I've never been able to find much information on Title 1 loans for renovations.