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18 November 2024 | 0 replies
Investment Info:Single-family residence buy & hold investment.
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22 November 2024 | 9 replies
They should know the process super well and have their own contacts with leaders and managers to be able to ensure things run smoothly.There is a weekly open-office time for residents to be able to sit down with their case manager (I think it's Weds, but I haven't seen the time printed out recently so it may have changed.
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19 November 2024 | 4 replies
Investment Info:Single-family residence buy & hold investment.
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19 November 2024 | 12 replies
I just put some at my personal residence.
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21 November 2024 | 8 replies
That way you could rent out the first property and also generate income from your primary residence as well.
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16 November 2024 | 6 replies
Long answer - it's complicated.For 2024 you have a personal residence with room hacking.
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18 November 2024 | 9 replies
Would that appreciate slower than single-family residences?
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21 November 2024 | 10 replies
Thanks for any help’ Yes we're licensed there and FHA guides in one state apply to all states unless a state has a specific law that supercedes the FHA lending guideline.FHA is always 3.5% down minimum (in some cases less because you're using a DPA or down payment assistance program or 2nd lender to put down over all a lower down payment than 3.5%, Aka for instance 3.5% DPA + 96.5% FHA = 100% financing but just dont kid yourself this is fully 100% leverage and to be used with caution and carefully).In the case of 2-4 unit FHA is still 3.5% down payment @Matthew Kwan @Carlos ValenciaThere are rules regarding FHA such as:- primary residence - you must occupy one of the 2-4 unit property as your primary over 50% of the year and the underwriter needs to believe you will remain and have the ability to live in there, any deviation from this and you'll get a whole laundry list of conditions asking you to prove why you should be believed to be living or will live there (if this arises dont be surprised, it just means the UW doesnt believe you).- SS rule - self sufficiency rule - gross rents of all potential units 2-4 X gross rents at 75% needs to meet 1:1 or 100% of the monthly PITIA payment or greater.
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17 November 2024 | 1 reply
Convert the Property to a Primary Residence: If you live in the property for at least two of the five years before selling, you may qualify for the primary residence exclusion, which allows you to exclude up to $250,000 of capital gains ($500,000 for married couples) from taxation.4.
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20 November 2024 | 2 replies
The smaller builds were harder to come by, too many overlays were put in place and the residents of East Nashville HATE us developers/flippers more than any other location in Nashville.