All Forum Posts by: Mitchlyn D.

Based on the rules, you will have to move into the house 30-60 days(max) after closing.  If not, it is considered mortgage fraud if you do not move into it.  

Prior to purchasing, you should negotiate to have the seller remove the tenant or, you can after purchasing. But yes, being that it is an FHA loan, you will have to kick a tenant out of one of the units.

I too will have to engage in the same practice in the upcoming months. 

Would you purchase a duplex on a street that had about 10 other duplexes on both sides?

Maybe i'm overthinking this but i'm concerned about too much competition.  

@Carolina E, Yep, i could potentially refinance into another VA loan with Navy Fed and not pay PMI. Hmm, ok, so your saying take out all. Understood.

Hi Everyone,

I purchased my primary home for $95K.  We currently owe about $83K.  I just remodeled the master and will do the same for the guest bathroom using my personal savings for both bathrooms. Comps in the area for similar sized homes are between $105K-$120.

My overall goal is to acquire more rental properties beginning with my primary residence.  So, my question is, if I refinance(current rate is 4.25%) my primary residence it to a lower interest rate (Navy Fed quoted me between 3.50%-3.75%), should I take all of the equity or only the total of the remodel cost for both bathrooms?

 Ok. Thanks!!

I live in Jacksonville FL and will be placing my primary residence as a rental needing a PM. Can you share his details so we don't choose make the mistake and EVER select this character?

I'm ready for the meet up! Count me in.

Great!  Looking forward to the different topics and discussions.

@Chad Clanton, thanks!  I was 'literally' just on the website snooping around.  I'll definitely have him include both a copy of his 'Certified Plumbing Contract' and insurance.  Thanks again!