All Forum Posts by: Paul Henning

@Lizzie Carver wow great story and insight. Thank you so much for your time we now know how to start thinking from here on.

If a SFH or MFH is outside my borrowing limit in the area we just moved to (Denver) to make more money, is it better to buy a condo that I can afford OR just rent until the money comes in for the house?

I learned that condos are to be avoided, but can I make an exception?

All FHA or vet loans right now, we will live in any property for at least the year.

Cheers!

@David Pere wow, thanks so much. I feel like I just grew a foot taller with this information. I will reach out to those you mentioned. Have a great day.

Hello BP! The SFH that I bought to live in in Washington state (my landlordliness includes only a a rented room for now but thanks to y'all we have a plan for more) was purchased using a 0 down Veteran loan from Veterans United. Everything was fine and dandy BUT they sold my loan immediately to PennyMac and now I'm wondering if I should go to PennyMac for my second place I'm looking to buying this fall in Colorado (also to live in, we are moving, hoping for a duplex, gonna sell the WA home for a little profit to put at least 3.5% down on house 2).

I get ads for lenders all the time, do I stay with the original ones that sold my loan cuz they were nice, go with bigtime company PennyMac or look for more? PennyMac says they will get me a better interest rate and less fees because they are huge, work the loan forever, and eliminate the middle man lender.

Thoughts? Thanks!

Paul

Hello! I bought my first small home last year and my friend/colleague immediately moved in so I could make some $$$ and now I am asking him to leave because I am getting engaged.

I am giving him a hard two month notice (after a soft 6 month notice 4 months ago) this week and am worried because we have no lease.

Obviously this was a mess up so feel free to skip the “you dummy!” comments ha.

Where we live is quite hard to find a place to rent, expecially because his situation at my house is better than anything he would find even if there were many options.

My idea is to tell him that if he isn’t out in two months his rent goes up $200 per month as an incentive to not take advantage of our friendship and end up just staying longer claiming he can’t find a place.

Aside from going back in time to make a lease, what would y’all do? We work together so damnit I’m trying not to create a huge problem but he is not a proactive guy to moving out.

Thanks y’all!

Paul