All Forum Posts by: Mario Gutierrez

I'd buy a primary residence first, if you haven't already. 

Great, thanks @Seth Teel. 

Can I get some recommendations for reliable home stagers in San Antonio?  Never used a stager on a flip before, so I'm not sure about price ranges.  What can I do for $500 or less? 

Hi Stephanie,  

Are you talking about the Government Hill area near Ft. Sam?

Thanks, @Chris Mason

I've got the landlord experience under my belt already. I plan to use a VA loan to buy the MF. Any insight on the VA loan process for MF purchases? I plan to live in one of the units as my primary residence.

Awesome goals, Latora!  Very motivating!

Hey Matthew,

I'm definitely following your thinking.  You've been in your home for 5+ years and you'd like to own it. You know the neighborhood, and the rental market so you have your eyes open.  Moving from being a renter to an owner is always a wise move in my opinion!  My only recommendation is to negotiate HARD with the seller.  Point out all the things that need repairs, the age of the roof, the age of the HVAC, etc.  

Thanks for your input @Nancy Curran @Jeff Kehl @Colleen F.  All good info.  Having the reserves is a VERY smart thing to do.  I think since I wanted to use the potential income to qualify, I got tagged with the reserves & experience requirements.  

@Jeff Kehl, did you not need the rent to qualify for the loan?

Hello all,

I've been listening to the BP Podcast and want to get some more detail from experienced BP'ers out there regarding loan qualification for a 2-4 multi-family property.  

My experience has been that lenders want you to have 6 months worth of reserves in the bank for the proposed purchase before they will make the loan.  They also want you to have some experience as a landlord.

I haven't heard any discussion on this kind of detail on the podcasts. I always hear guest speakers say, "I bought a duplex as my first investment," but I'm thinking, "How?" They make it sound like it was as easy as qualifying for a loan on a SFH.

So, do lenders have those requirements? Or, do I need to look for a lender that doesn't have them?

@Hong Vu  I agree with @Tim Macy.  The Medical Center (however you define that for yourself)  I define it as west of I-10, north of 410, east of Bandera and south of Prue.  This includes Leon Valley.  SFRs are rising in value and there are good opportunities to pick up discounted properties here.  The big plus is that the "Medical Center" is a very desirable place to live/rent due to the location and amenities.