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8 January 2025 | 5 replies
With your Fico and down payment, all you need to do is make sure you pass the debt to income requirements.
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11 January 2025 | 8 replies
Fannie Mae has a requirement that if you want to use the rental income from the non occupied units, that you MUST have a current housing expense which means you cannot live rent free.
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11 January 2025 | 9 replies
I wouldnt, so long as you have your requirements laid out - they should be able to know if it is even worth applying.
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9 January 2025 | 9 replies
If yu claim one it doesn't void the option to claim the other one.Provided you meet the IRS requirements for both, as a tax strategy, you could complete exclude a portion of capital gains under Section 121 and then defer the remaining capital gains under Section 1031 (@Dave Foster is a great resource for 1031 exchange). ..
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19 January 2025 | 46 replies
Yes requires higher downpayment but can get down to 30%.
13 January 2025 | 7 replies
The interest rate is nice, if there was a way to increase the cash flow to ~15% or greater COC you could pull a HELOC on the property for 9% and collect the delta.again though, i would suggest selling it and trying to lock up a property or two with the proceeds that required some sweat equity, force appreciation through a reno, rent it out, refinance and repeat (BRRRR)
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11 January 2025 | 15 replies
Often it's a really easy fix or operator error that does not require a pro.
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9 January 2025 | 8 replies
It is pretty easy to keep it fully occupied but it does mean I turn away a ton of people who want a lease that doesn't quite fit my requirements.
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23 January 2025 | 15 replies
As for the "seasoning", some lenders will require the property to be "stabilized" (perhaps 80%-90%+ occupied, depending on the lender) for 3 months, 6 months, etc. before they'll do a cash out refi.
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15 January 2025 | 15 replies
You should not get a PM until you have scaled to a level that requires it.