4 July 2024 | 0 replies
I then converted the MH to real property and filed with Montgomery County.I completely renovated the home and put it on the market.
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5 July 2024 | 19 replies
Since then, I have updated the furnace before converting it to an Airbnb/Mid-term rental.
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3 July 2024 | 3 replies
Alternatively, look into renovation-specific loans like the Fannie Mae HomeStyle Renovation or FHA 203K loans as standalone products for rehab costs.FHA 203K LoanPros:Low Down Payment & Bundled Costs: This loan simplifies the process by combining the purchase and rehab costs into one mortgage.Cons:Interest Rate & Refinance Requirement: Higher interest rates and the need for refinancing could reduce your overall return on investment.Fannie Mae HomeStyle Renovation LoanPros:Bundled Costs: Like the FHA 203K, this loan combines purchase and renovation costs, simplifying the process.Cons:Interest Rate & Refinance Requirement: Similar to the FHA 203K loan, the need for refinancing to extract equity and convert to an investment property might add to your costs.I am a loan officer so I have some expertise in this area.
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3 July 2024 | 6 replies
Convert rentals into your next retirement home and convert some of the gain from tax deferred to tax free.
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10 July 2024 | 256 replies
There is a search function which will give it you based on the zip code converter or state, from there it will link you to the public information on the county site (if they have one).
3 July 2024 | 5 replies
HelloI have a land contract that I’m currently paying on but would like to convert to a longer term (15 yr?)
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3 July 2024 | 4 replies
Sometimes when a church is converted to residential the taxation may start at purchase or it could revert back to a date - that would be something to consider.
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2 July 2024 | 10 replies
Examine the projected rental income against the expense of converting the garage and possibly extra rooms.
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2 July 2024 | 0 replies
For the first 6 months I ran it as a Airbnb after that I converted it to a long term rental.