19 July 2021 | 4 replies
If you use a HELOC on your primary then the HELOC payments will be used with the Debt-to-Income for the new investment.
19 July 2021 | 3 replies
As I’m looking, my main concern is vacancy, since if I can’t get tenants to rent by the room I won’t be eliminating my housing cost.
20 July 2021 | 8 replies
Since you are in full time RE now and wanting to put debt on the homes, the outcome of the cash out refi will likely come down to your personal financial statement and income.
24 July 2021 | 18 replies
@Susan Maneck - Yes, eliminating your rent can be a huge form of "yield", living in your property gives you huge tax incentives upon sale and in New York you would rather avoid anything over 4 units due to rent control and rent stabilization complexities as a newbie investor.
20 July 2021 | 9 replies
Short answer: they look at your DTI ratio (which considers your monthly debts), generally you cannot exceed 50% DTI with a new mortgage.
23 July 2021 | 10 replies
This would eliminate these issues.
14 August 2021 | 17 replies
The demand for this cheap debt is insatiable.
21 July 2021 | 5 replies
The lender will look at the appraisal to determine fair market value and debt service coverage ratios to determine the qualify of the investment.
19 July 2021 | 1 reply
Then once you contact the owners, you can sign a contract with them that says you will make up their back tax debt in exchange for their house.
20 July 2021 | 7 replies
You make money holding Real Estate 4 ways: Cash Flow, Appreciation, Debt Paydown, Tax benefits.