All Forum Posts by: Trevor Aydelott

Well @Belen Barocio I wanted to travel and be diversified. And I will still invest in California as I got a property under contract, but it is a short sale and is taking forever. 

I want to invest anywhere it makes sense. And I will invest all over the country if I have to. 

And hopefully you didn't find a problem with this coronavirus, hopefully I don't have that problem. 

Exactly @Chris Mason

That is what I was saying, $1,300 is the rental agreement. So as long as my cash out refinance mortgage is cheaper than $975 then no debt will count against me. 

@Whitney Hutten

Well actually lenders give higher then 50% DTI, depends on your credit.

Also I wasn't talking about LTV, I was talking about rental income.

But I figured out how to not only keep my DTI not going higher but to lower it as I'm increasing my debt.

Sometimes you just need to say it out loud to figure it out. 

I'm looking for someone that does delayed financing for cash out. 

Also what interest rates has anyone got? 

It will be in the state of Colorado 

Hey @Kevin Manley

You may have the information by now, as it is 2 years ago. But hey never know. 

You can have it in your personal name, trust, LLC it doesn't matter.

@Chris Mason 

To touch on what you wrote. On #4 you said for the rental to offset the PITI

and by this @Eric Zawadski 

In my scenario I just bought an investment property. It can rent out for $1,300 so I times that by .75  (75% of the rental income) = $975 

So as long as my PITI is lower than $975, there will be no debt that is counted against me.

Hello @Eric Zawadski

Okay I'm running into a similar issue with DTI being to high.

What I'm coming across is how banks/lenders are calculating the rent I receive on the property with the mortgage payment that is on it. 

So my lender is giving me 75% of my rental income. So basically I need a tenant already in the new home to lower my DTI or put a renter in my property I'm in now and that will lower my DTI

Hopefully that helps in a way. 

@Doug Crenshaw 

There are tons of lenders on here, this is not just a realtor platform. Just so you are aware. 

And @Whitney Hutten 

You must have that confused because the lender I'm working with is giving 75%, so either you have miss information or you are understanding it wrong. But yes it is a conventional loan. 

@Dalton Wilson

Okay to clarify I have two VA loans in California, and will be working on my third VA loan ( so the property in Colorado is a cash deal)

So these are two different subjects. 

The one in Colorado will be a rental and I will apply the BRRRR method.

Hopefully that clarifies. 

Hello @Kirk R.

Well with any loan they want 2 year tax returns. 

But not necessarily for rental income, as if you don't have the home rented for two years. 

Also I stated I got it already situated on getting money for the rental. So I don't know how your response is answering my question, unless you're just asking my a question. lol