All Forum Posts by: Nathanael Isaac LaCorte

@Brady Potts, perfect. I will hit him up. 

Thank you much!

Best, 

Nate

@Keith Miller, good to know. That dynamic between actual cash flow from Airbnb and credit toward additional leverage from the bank is interesting. 

Thanks!

Hi @Andrew Postell, since I am currently in school, my wife and I are primarily working off one income. I am getting impatient and would love to buy another house now. Although we do have significant equity and some cash on hand for a down payment, I don't think a bank would approve based off our one income stream. So my thought behind renting out our home was to build additional income history. I should go talk directly to them and get the details

Great info. Thank you both!

Hello Friends,

I am toying with the idea of renting out my home for a year, either as a traditional rental or an Airbnb. During that year, I would live in an apartment. The goal being to create income history so that I can qualify for a loan to buy a second home. I would likely live in that second home and continue to rent out my original home.

Has anyone done anything similar? I am trying to get creative but am unsure if a lender would look favorably on this.

Thanks!

Hello Friends,

I am toying with the idea of renting out my home for a year, either as a traditional rental or an Airbnb. During that year, I would live in an apartment. The goal being to create income history so that I can qualify for a loan to buy a second home. I would likely live in that second home and continue to rent out my original home.

Has anyone done anything similar? I am trying to get creative but am unsure if a lender would look favorably on this.

Thanks!

Nate