All Forum Posts by: Rogelio M.

@Marcellus Jordan

I have a couple of suggestions with regard to identifying a lender for the FHA 203K loan program.

MAKE CERTAIN the lender is experienced with this type of program.  To locate experienced lenders with the program use the following link >>  HUD 203K Direct Endorsement Summary Report  Do not just use any lender 'willing to learn' on your dime.

Further, look to see that the lender is also a "Direct Endorsement Lender". A direct endorsement lender underwrites directly for FHA, rather than through the agency itself. This shows the lender to be experienced with the program; further, they can advise you directly on the underwriting viability of a project adjusting for its nuances.

@Jordan Moorhead  Thank you!  How to contact you?!

Regards.

Any lenders in San Antonio Texas with extensive experience with FHA 203K?!
Am looking to obtain financing for a house hack.
Please DM me with your contact info.
Thanks.

@Brandon M.  Great take on the possibilities for unique selling propositions!

With the ascending political narrative, one should expect that in general Landlord-Tenant laws will become less friendly toward landlords.

@Ryan Thomson. Thank you Ryan.  It is useful to remind one self of these guidelines. 

Thank you all for your contributions to this forum thread!

With regard to tradeoffs between a "2 family" vs "3 and 4 family" approach with a 203(K) loan, I understand the following .... if I am wrong, kindly reply ....

- "2 family" - self sufficiency test will NOT apply; however, it will likely NOT cash flow.

- "3 and 4 family" - more likely to cash flow; however, self sufficiency test applies, and properties usually do not pas this test.

@Ryan Thomson ... Thank you for the input! .... any mention in the initial conversations with potential tenants that there should be no evictions?

@Austin Berlick ... I too am considering a rent by the room house hack.  Am also confronting the same concerns.  A mid term rental approach, as @Olivia Radziszewski suggested, may attract a higher quality "roommate", like a nurse, project manager, or armed forces personnel,  etc.