All Forum Posts by: Ron Johnson

@Nikki Closser

Thanks for posting your question!! I was just about to do the same regarding our sfh in Oregon. This led me for the most part to the same conclusions and validated my thoughts at least partially! congrats!

@Joseph Crunkilton thank you!!

@Joseph Crunkilton any particular areas out of state you see good opportunity? I’m in Oregon looking to go out of state.

Thanks Andrew!!!!

Yes 1031. Am I correct in my understanding that Fannie/Freddie will only allow 75% of income from rentals toward DTI equation as they're assuming vacancy, expenses etc.?

@Andrew Postell

Andrew any tips on DTI/qualification for Fannie/Freddie? My situation is we have a mortgage for our home we live in and another mortgage for a single family rental. We're looking to sell that single family and buy multiple duplexes in a different market. I'm worried I'll sell the rental and have cash on hand for down payments but won't be able to secure the financing in time to avoid capital gains.

@Nels Norquist

Thank you Nels!!!! Greatly appreciate it! I'm a bit concerned with my DTI situation, not in a personal security way but more so in terms of getting the next property secured.

Has anyone used Finance of America commercial for lending? Or does anyone have lenders they highly recommend?

I have a single family home and id like to get pre-approved for a multifamily or duplex in the near future. My only rental is a home I lived in then retained as a rental when we bought a new home. I'm trying to find lenders willing to use rental income within the DTI calculation.

Still a rookie so any advice is welcome! Thank you I’m advance!

I have some capital (single family rental) and I'm looking to connect with a local person in Oregon to help with long term strategy. I would like to own a portfolio of multifamily units and have some ideas but need help analyzing current tax strategy, financing the next property, etc. primary goal is to identify exactly what I need to qualify for next purchase and if that requires selling current single family rental. I understand DTI and other simple requirements but am looking for a person that could potentially prequalify me or give tips so I can get to that point.