All Forum Posts by: Mark Fowler

I would have roommates.

I am a 1099 Insurance broker.

This is the reason I am posting, if I knew I wouldn't need to post :)

Hi Gang! This is my first post here :) I really appreciate the community here and have learned a lot, but I need help thinking this through!

 I was thinking of selling my income property in Oakland (Duplex, worth around 800k with 450K 1st, $4,500 pm income) and buy a property in Las Vegas (Single Family, priced at 680k, Vacant, $3500 potential income, house hacking).

I was about to go ahead with the agent but I wanted to see if there was a way I could leverage the other property so I could keep it as I just completed a Loan Mod at 2% interest only (for 5 years) , so I have some significant positive cashflow (around 3k PM).

My credit is pretty bad (560) as I recently completed a chapter 13. I am open any suggestions (hard money, lease agreements with the new and old tenants to up my income, etc.) as I rebuild my credit.

I adore this new house and would love to get into it without giving up the other one.

Let me know your thoughts please!