All Forum Posts by: Ricardo Nieto

Thanks for your feedback guys. I've taken some advice and were getting closer to actually getting approved. We are taking the necessary steps the lender has advised us on and I'm definitely going to walk in with all the numbers and everything broken down once we are ready, I appreciate the sound advice!

Hi everyone, I have a pretty specific question regarding lending.

So a little bit of background, I have one rental property under my name cash flowing a little over 400 a month with a 100,000 mortgage. My partner has no debt to her name or a property under her name.

Together we make 40,000 annually and we are looking for a 3.5% down owner occupant FHA loan on a multifamily home worth 480,000.

Its a bit of a stretch but I heard somewhere that some lender will use the projected rental income from the other units to help with your projected mortgage payment. The fair market rent in the area varies but the property could bring in about 3,300 from all the units combined not including our unit that we will occupy.

I was wondering if anyone had any input to some pitfalls we might face or if anyone knows a lender in Reno NV that would work with us.

Thanks again for any input or help!

I'm a new investor from the San Francisco Bay area looking to get into the Nashville Tn market. Does anyone have any real estate agents or property managers that they could recommend in that area? Any help would be really appreciated