DIRECT MORTGAGE LOAN COMPANY6.

This deal was the catalyst that got me into the mortgage banking industry.

I have 3 accounts per property which helps me leverage APY on savings accounts, prevent funds from being comingled, and easily set up auto payments for things like mortgage payments and utilities. 

If you did not do a "wrap mortgage" or "mirror mortgage" to help them create "notes receivable income", they may need a cosigner to have enough income to qualify for their next mortgage.

For now, it Looks like your roommate/tenant can cover half of your mortgage (plus hoa fees). 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

When I tried to get it when my side of the family found out and tried tp take over reverse mortgage payments to bank because she had died it was to late so they sold the house to Hud and then other reverse mortgage companies but a relative still lives there so they can't kick them out.

I am also a mortgage broker so we can hook you up on the lending piece.

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

Remember last summer when mortgage rates briefly dipped, and it looked like more homeowners might finally list their properties?