That house is worth $150K now.My wife said she’ll support me in taking the equity out to buy an investment property but she said we’re going to take a big hit to our credit.We currently owe $218K on our primary up a new mortgage will bring it up to $390KHowever, when I ran the numbers, assuming I would be buying a new property every year until 2027, I’m estimated to have roughly $250K of total equity from 5 properties.  

Now take that for what you will but point is two fold, it's an absolute frenzy for MFH out there with a desert of supply, and the con-artists are flooding in taking advantage as they always do of desperation and market frenzy.

I don't believe in taking advantage of people and we closed on the old lady thing. 

I loved your intake and that helps me tremendously.

I know she would be interested in taking this option if possible.

If however, you feel this new deal doesn’t have much equity or cash flow then I’d be careful in taking it on.

Hey everyone, I've been listening to BP podcasts for a few months now, educating myself on the house-hacking strategy, and now interested in taking the first cut at purchasing a home!

While the loan intake department is understanding, they've asked that I at least provide a letter explaining the situation from the servicing department.

They sent me their intake form and I completed it and sent it back.

Not sure if he is interested in taking on new clients or not and I do not know him personally.