All Forum Posts by: Sway Tseng

Who do you use for insurance carrier when house hacking? Do you carry separate Rental Dwelling Policy? Which carrier do you used for Commercial Umbrella Policy? Thanks in advanced.

1 Vote

Charlotte, North Carolina

Quote from @Christian Bachelder:

We do this all the time with just 1 year of tax returns. If you filed it as business income, then we'd need to look at how you reported it to determine if we would need 1-2 years, but reach out to a broker with STR experience and who knows how to underwrite it in a way that puts you in the best position to get financing. Most big banks struggle with this, but brokers should excel since they work with multiple lenders. Good luck!

Thank you.

0 Votes

Charlotte, North Carolina

Quote from @Angie Castro:

Quote from @Sway Tseng:

Any recommendations on Conventional Mortgage Loan for Primary home that will account for my short term rental income that is less than 2 years? Currently in the market for a Primary home, most lenders require minimum of 2 years tax returns. All of my investment properties were purchased and placed into service in 2021. Thanks.

I have a great lender that can take a look at your situation and see what are the best steps moving forward. Message me to connect you!

Thank you!

0 Votes

Charlotte, North Carolina

Quote from @Chris Mason:

Quote from @Sway Tseng:

Once your 2022 tax returns are done, find a local mortgage broker that can work with a 1 year average for rental income. They will still ask for 2 years, but only do their math (for that specific income type) on the most recent year. Shouldn't be too hard, maybe start by finding a LO on these forums that's in NC (or wherever your rentals are). GL.

Thank you!

0 Votes

Charlotte, North Carolina

0 Votes

Charlotte, North Carolina

What type of insurance does one obtain when house hacking their primary home?

My current insurance agent has advised against it.

0 Votes

Charlotte, North Carolina

ADUs in Charlotte NC surrounding counties. Has anyone built one or renovated an out building on their property? Considering my options, anyone have any referrals for architect, engineer?

0 Votes

All Forum Posts by: Sway Tseng

Sway Tseng has started 4 posts and replied 8 times.

Post: John Jackson Lease Option Classes

Post: Insurance provider coverage

Post: Conventional Mortgage Loan with Short Term Rental income < 2 years.

Post: Conventional Mortgage Loan with Short Term Rental income < 2 years.

Post: Conventional Mortgage Loan with Short Term Rental income < 2 years.

Post: Conventional Mortgage Loan with Short Term Rental income < 2 years.

Post: House Hacking Insurance

Post: ADU Charlotte NC surrounding