Jason Warren
Rent by the room financing
Is there any way rent-by-the-room income can be counted for owner-occupied SFH mortgage qualification?Also, if the house has an ADU, can the ADU's or the main house's rental income count for qualification?Thanks!
Roger S.
10 mortgage limit question
When doing a refi, how does the 10 mortgage limit work? I did a refi last year and ran into that issue, but since I was at 10, it didn't matter. I guess my question is, do portfolio loans count towards the 10 mortga...
Shedrick Boyd
Am I being Tested OR Am I being told to Wait?!
Currently in the process of getting financing. Going to be a owner occupancy conventional, so only need 5%, I’m on board!Lender tells me they can’t use rental income because I don’t have 2 years rental history...Now m...
Nat Rojas
LLC required for more than 10 properties?
I think I'm confusing myself with the information I'm reading. I currently have 8 properties in the Baltimore City, Maryland area. All properties are financed through FM confirming loans. My goal is to grow past 10. D...
Horacio Gutierrez
Applying 75% of rental income to debt to incomr
Hello,If you buy you first rental property with a conventional loan can use the estimated rental income to use that 75% income to.use for the debt to income ratio ratio. Also I have never had landlord experience but I...
Todd Fullerlove
Using rental income for loan approval
Hello BP Friends,When getting prequalified for a mortage to buy a duplex or any 2-4 unit. I hear that lenders can use the rental income you WOULD be bringing in once you purchase it towards your debt to income. Any tr...
Nate Whitmore
Number of mortgages per individual
I own 5 rental properties. Three of them are in my sole member LLC, are purchased on land contract and I did NOT sign personally for them.
2 of them are in my name and I have conventional mortgages on them.
I am tr...
Jahmar Childs
Advice??
So I recently purchased a "home" in Illinois, for me and my family with the VA loan, and I am renting it out until I finish my service which is 1 1/2 years in Salt Lake City, UT. By the end of the year I would like t...
Daniel Cannon
Material Participation hours with spouse and business partner
Our Situation:Two couples, new to real estate investing, each with one working spouse with a high income (W2 and 1099) and one non-working spouse plan to go 50/50 on a new construction STR which will not close until S...
Chris Burke
Calculating Square Footage - Office Above Detached Garage
Hello, I have a property that has an office above a detached garage. The office has an A/C window unit with drywall, carpet and electricity. Does that office count towards square footage of the property? Or do I need ...