Account Closed
Funding Our Second Deal
My wife and I recently did a cash out refi on our primary residence and used the proceeds for a down payment on our first STR investment. We close on it this coming Thursday.
We ar super excited and I’m already l...
Justin Young
Use TSP for first home, any penalty to rent after one year?
Currently, my wife, our 3 children and I live with her parents. We sat down with our RE agent for the first time yesterday to discuss our goals with REI. Our plan is to finance our first home with at least a 20% DP, f...
Account Closed
Refinance VA to Conventional to Reestablish Entitlement but...
Looking to refinance current residence from VA loan to conventional as a primary residence, however I am being warned that I will need to live in the current residence for at least one year.Has anyone else heard of th...
Brian Henry
Tax Advice - College Rental Property
I bought a property last April that my son and 2 college student roommates are living in. Getting ready to do taxes for the 1st time since purchasing. Do I treat the property as 1/3 second home that my son lives in ...
Wayne Helms
Mainteance request systems for apartments buildings
I am closing my 1st apartment building this Friday. It is 8 residential units and 2 store fronts. We have an in house maintenance man. What systems do you use for maintenance requests?1. residents has an issue2. What ...
Kevin Shuler
Single Family used as Duplex
HI There,I know it's been covered a few times, but I wanted to start a new thread as it's kinda unique.I'm shopping a property in Aurora, CO zoned R1. The entire area is zoned R1. It was converted some time ago to sep...
Brian Shand
Sell and scale, or BRRRR?
I purchased my first house last year, June 2021, for $270k in a hot market with TONS of new construction everywhere you look. This house is a brand new construction as well. Since then, it's appreciated quite signific...
Eric Richison
Non-qualified use tax on primary residence
Hi all,I'm looking into the tax implication of selling my current primary residence, which I used as a rental during a 4 year stint my employer sent me abroad. I'm interested to learn if there is any exceptions to th...
Justin Nwakacha
Should I pay off my primary residence mortgage or purchase a new rental property
Hi All,
I own a primary residence in Katy, Texas, still have about $325,000 to pay off. Interest is 2.85% (bought during COVID). I do own a rental property in Texas, interest rate is 4.8%, and it has a lower mortgage...
Francis Dai
SAFE Act and the definition of primary residence
The SAFE Act states that a homeowner selling his primary residence does NOT need to employ a licensed mortgage originator.
What is the definition of primary residence?
If I buy a mobile home, move in, change the u...