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29 August 2024 | 9 replies
All family stays or blocked nights for work projects are not counted at all.
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30 August 2024 | 16 replies
If you're spending your time counting trivialities like this you are "tripping over dollars to pick up pennies".
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30 August 2024 | 12 replies
Family and friends do not count as Landlord references.2.
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27 August 2024 | 2 replies
I heard some lenders would consider future rent that I will collect from the property even if it’s just 7-80% of it, and when I talked to two mortgage lenders so far they said it won’t be counted until I actually have the rent come into my bank.
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27 August 2024 | 1 reply
Unless they allow future rental income to count towards the DTI calculation.
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27 August 2024 | 7 replies
HOWEVER, on that note, just because it does not report on your credit DOES NOT mean it is non-recourse and therefore it DOES count towards your DTI calculation in most cases going forward.Off my side tangent, a true non-recourse loan is any loan that does not have any kind of personal guarantee.
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27 August 2024 | 0 replies
I did my analysis as if I was not house hacking one of the rooms or as if I was counting myself as a paying tenant.
27 August 2024 | 4 replies
I.E. plan is to sell the property in 5 years but he says he no longer wants to sell.You would be on the loan and the monthly payment would count against your DTI making it difficult for you to get loans in the future.
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27 August 2024 | 3 replies
Since the banks in Canada do not count your rental income at full value, your GDS/TDS ratios will be out of wack as you get more conventional mortgages and at some point you'll be topped out.
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26 August 2024 | 13 replies
This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return. 5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to number 1, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.