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Updated almost 4 years ago on . Most recent reply

User Stats

62
Posts
25
Votes
Samuel Fletcher Hardy
  • Rental Property Investor
  • Florence
25
Votes |
62
Posts

DTI problems after triplex rehab.

Samuel Fletcher Hardy
  • Rental Property Investor
  • Florence
Posted

Hey there BP family!

My wife and I are in the process of purchasing a new primary residence and moving out of a triplex we have been house hacking. We are struggling with financing due to the fact we took a lose on last years taxes because the triplex was under performing.

We occupied one unit and covid made the rehab of another one take most the full year(its now rented) and the third has been steadily rented the whole time.

Now that two units are rented it's negative cash flow is only $100 a month once we move out the third unit will put us positive $1100 a month. After taking into account property management. Any advice on how to over come this hurtle? We are moving cross country due to a family emergency.

Most Popular Reply

User Stats

62
Posts
25
Votes
Samuel Fletcher Hardy
  • Rental Property Investor
  • Florence
25
Votes |
62
Posts
Samuel Fletcher Hardy
  • Rental Property Investor
  • Florence
Replied

Sorry for the delayed update, moving across country was no small task lol. 
The resolution was after calling every local bank 3times I found a Rockstar loan officer! Instead of stopping at no he helped me work to answer, why & how. To ultimately get the loan funded. I can explain the details if anyone comes across this thread and is interested.

Thank you to those who gave there time and wisdom in responding!

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