All Forum Posts by: Manav Wadhwa

Hello,

I purchased a new under construction home from a builder that will get handed over to me next month. I plan to put that home on rent. 

I wanted to understand if I can put that home for rent now itself (available for the date soon after I get hand over. My rationale is by the time I will get handover I may be able find the tenant. Interested tenant can at model home by builder to get an idea of home. 

Any suggestions will be greatly appreciated.  

Thanks. 

 Yes, that’s what I have been hearing from lenders. However, as suggested in the thread, it clearly is a bad idea. Thanks. 

Hello,

I currently own a home that I live in and is my primary residence. I have found a (rental) property that I plan to buy in another city.

My question is can I get mortgage on that property as my primary residence (let’s say I am able to convince bank). Also, do I need to worry about any implications with IRS? I will show the new property as rental itself. 

The benefit I see of this approach is that I will be able to secure mortgage cheaper as primary home. 

Thanks for helping me on it. 

I am thinking of purchasing a home in an upcoming community in South Temecula. I plan to live there for a year or so and then put it up for rental. How is the rental market in Temecula and is it going to worth the investment? 

@Larry Fried - agreed, having a stable tenant base is important. I can look for a slightly higher range to fetch rents that allow me get a stable tenant base. Considering mid west is being recommended as an area with very low appreciation, which other areas can I focus to invest in? 

@Dan H. - thank you for such an insightful view. Your inputs are very valid. 

You aptly helped articulate goals for my investment better (even to myself) - generation of positive cash flow from rentals, and overall appreciation of property/properties. 

The reason I am looking for homes in range of 50K - 70K allows me to  buy multiple properties with limited cash. Investing 50-70K in a single property will restrict my ability to invest in multiple properties. Currently I am looking at financial institutions as my source for OPM. I don't have contacts/understanding of working with a syndicate or other forms of raising money. 

Considering this view, what will be your advice on where to start?