What are the thoughts on having my tenant pay $1,500 per month into my kids 529 (half the rent) and then pay the other $1,500 to me? They could use the tax break for gifting into someone's 529 and I wouldn't claim the...

This strategic move paid off handsomely as we were able to command higher rents than initially projected.Here are the key financial details of the deal:Purchase Price: $270,000 (jointly with a partner)Financing: Obtained a commercial bank loan with a 30% down payment, 7% interest rate, and a 20-year amortization period.Initial Rents: $1050 and $1250Current Rents: $1400 and pre-leasing for $1500 (making it a 1% rule deal!)

Fix and Flip/Bridge Loans—No MInimum Experience Level DSCR Loans—12 Month Payment History For Primary Residence New Construction Loans—2+ Exits Within The Last Three Years You may quantify your experience easily by taking advantage of our experience template.

(for that matter they will not be lower then a 10 arm with amortizing payments) as interest only actually adds a layer of risk to the lender.

Excluding taxes and insurance, your monthly payment is roughly $1,700 dollars a month. 24 months ago that same loan of 250k, with a 715 credit score on a 30-year fixed was hovering around 4% meaning you’d pay just under $1300 per month.

I have looked into the DSCR loans but you would still need to come in with a large portion of the down payment correct (the remainder of what is under the 75% loan to rental income )correct?

Many investors struggle with the higher down payment often required when purchasing a rental property which is why I suggested house hacking.

Since you'll be living in one of the units, you can qualify for owner-occupied loans, which often have lower down payment requirements and interest rates compared to traditional investment loans​

Even in the worst areas cash tenants are IMO worse than HUD tenants.Restrictions of Section 8 Tenants There are unlimited, everywhere.Don’t Receive Voucher Payment Until Tenant Moves In SO?

My wife really wants to look for a new place and would like to use our equity as a down payment.