All Forum Posts by: Shaun R.

General question... if a homeowner wanted to purchase another home as a personal residence and keep their current one as a rental, how does the mortgage approval process work for the second home? I assume since there is no renter yet, both mortgages have to fit into their DTI? What about the down payment for the second home? If it's known that they will live in the one with the new mortgage and rent the original home, do they need a larger down payment for the new home? Or can you get the same type of owner occupant financing as you would normally get?

Would it be better to move out of the current home and get a renter in place before trying to buy the second home?  

@Katelyn Quirk cool... I'm over in Denham Springs, near Baton Rouge.  If you're just looking for a regular lender that can do an 80% loan for an investment property, the guy I use is actually in your area.  

Hey Katelyn, where about in Louisiana are you located? 

I'm looking for investment properties and I keep coming across townhomes and houses near a college campus.  I'm sure it's easy to place tenants with the school being so close, but I keep thinking back to how dumb I was as a college student and how I treated rentals back then lol.  Any of you guys have experiences you could share with college housing, good or bad?  

That’s great.  Do you have any examples of ad copy you wouldn’t mind sharing?  

What's up Jordan... Louisiana agent here also over in Denham Springs.  I'm about to hit 4 years being licensed and if I had to give any advice to a brand new agent, it would be to just be a sponge.  There is tons of free information out there online for you to absorb.  I've spent hours, upon hours, upon hours watching YouTube videos, reading articles, listening to audiobooks and podcasts.  The best thing I did is joining the GSD Real Estate Mastery training with Joshua Smith.  If you're every curious about it, I'd be glad to give you info.  You can check out the GSD podcast to get an idea though.  Good luck... you're jumping in at a crazy time.  

As a real estate agent, it's pretty easy to generate homebuyer leads with paid facebook ads.  I'm looking for seller leads as an investor, not as an agent.  Has anyone had any success with "we buy houses" paid facebook ads?  

Where in LA?

Where I’m at in Louisiana you have to start the process with the Justice of the Peace for the area.  Find out who they are and start there.  

Google Louisiana landlord tenant laws and look for the nolo.com link.