Deadrick Colbert
Question regarding eligibility for FHA Loans
I currently have 8 years left on a 15 year conventional mortgage on my primary residence. I'd like to buy another home and move into it, making it my primary residence and rent out the house I live in now. Would I be ...
Dori Arazi
Selling a primary tax free
I'm confused about the wording of "lived two years out of five" for the tax exempt sale of a primary resident. Does that mean I can sell it after 2 years of living in it, or do I have to satisfy the 5 years regardless?
Michelle Davis
Help!!! First Time Home Buyer
Hello, I'm trying to qualify for a loan to acquire my primary residence (FHA hopefully). I would like to invest in maybe a 4 plex? I was wondering if it is allowed to purchase multiple properties with the amount of th...
John T.
VA loan 4-plex purchase/househack HELP
VA loan qualified. 3 years landlording (tax return) experience. Looking at a 4-plex to owner-occupy. Our DTI is too high, bank is saying the subject property is roughly 100K over our borrowing power. We have about...
Kathryn Dunnivant
Opportunity Zone Fund
Hi Everyone,I am closing on my first rental duplex in mid-December located in an opportunity zone. I do not yet have an LLC set up for this property and it will be owned by my husband and me at first. We were planning...
Jacob Trogan
High DTI and How to Get over It For A HELOC (W2 is a trap)
I am a little frustrated here but I wanted to get advice on how any of you may overcome DTI limitations when applying for loans or HELOC/LOC? I applied for a HELOC and the equity is there and my credit is 750+ but the...
Jeff S.
Very underwater
Almost related to a young couple that own a condo as a rental that is 60k underwater.
The wife bought it when single as a primary residence at market peak with basically no down. The lender says no adjustment because...
Vincent Claypole
Assumable mortgage and additional financing
Hello everyone, I'm new to real estate investing and have been browsing bigger pockets for a couple years now. I cant quite find the answer I'm looking for so here's my question:I have found an off market deal in my n...
Dakota Sullivan
Help--Tax shelter strategies for personal residence cap gains?
Hi BP fam;CA resident here looking to shift equity from personal residence into primarily income producing stock. Due to runup in home prices in Bay Area over 10 years I've held my personal residence, I'm facing seven...
Shaun Sperry
BRRRR: HELOC and conforming loan - first post
I am looking to the BP community for some advice on my first post, popping my cherry finally. I am looking to take out a HELOC on my primary residence for my first BRRRR. I do have reserves, but it is mostly for emerg...