All Forum Posts by: TONY GALENTE

We currently own 2 homes and are thinking about re-locating to another area which would mean we would need to get a 3rd home. We currently rent 1 of our 2 homes, but my question is will a lender be willing to lend someone a 3rd home loan so long as they have their other homes rented out to cover the mortgages?

Example: Home 1 mortgage is $1500 rents for $1900. Home 2 mortgage is $2500 rents for $2900. Does that offset your debt to income allowing you to take on another home loan?

Any help is appreciated!

I completely agree with the reserve account idea which I have already done. I don't think the lender will let you transfer a property you have a loan on into an LLC or do lenders not care as long as they are getting their money?

Purchased home back in 2015 brand new. We just rented it out for 18 months and we moved into our other new home that just finished construction. I plan on acquiring new properties in the years to come and my wife is a realtor which helps with finding properties. Does anyone have advice on how to handle the income from the home I purchased back in 2015 now that it is a rental? Also, can I form a real estate investment/management company even though the property still shows registered in our personal names? I want to see if I can turn this into a business and start taking advantage of the tax strategies that are available. 

Thank you all for your help in advance!