I have finally decided to go on and make my first real estate investment. I have my eyes on this 3 family unit. I do not have the necessary funds for the transaction, do I make an offer to the seller or get the financ...
Hello,
Thanks for accepting me into the BP network. We just relocated back to MN recently from the PHX area. We own a primary residence and an additional SFH here in MN that will be used as a rental. We are planning...
Investment and commercial properties have different loan requirements than residential properties.
A higher down-payment is required. The minimum is 25%. This is the first key difference.
The reason for this: banks...
My wife and I are looking at our first investment property, a STR vacation home in east Tennessee.I work and she stays home with the kids. We both have excellent credit and no debt other than our primary mortgage, wh...
Can I add my primary residence to my rental portfolio and rent to myself? Because of the new limitations on mortgage interest and state income tax, many can't fully utilize the deduction with a $10k cap. Can I rent ...
Hi all,Can I use a FHA loan on a small multifamily (2-4 units), as long as I live in one of the units for at least 12 months? Are there any other major stipulations to consider? Any tips to get qualified for this type...
Hey all,Just had a general quick question.. What is the income requirements for a cash-out refinance on a property? More specifically, how many years of tax returns is needed to be shown to qualify for a cash-put refi...
So I have been finding out the hard way that rental income does not always count when qualifying for another mortgage.I am house hacking our primary residence. Although I collect rental income from our long term tenan...
I can't say enough times how much I LOVE Bigger Pockets and the fact that I have a place I can come to and ask these questions without having to weed through articles on google from potentially unreliable sources. I n...
I am currently in the process of being preapproved for my VA loan. I plan to have my letter tomorrow. I am a regional airline pilot in Houston and have many coworkers seriously interested in renting bedrooms from me...