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Updated over 4 years ago on . Most recent reply

User Stats

144
Posts
42
Votes
Michael H.
  • Rental Property Investor
  • Houston, TX
42
Votes |
144
Posts

House hacking a SFH, can I get a another House after 2 years?

Michael H.
  • Rental Property Investor
  • Houston, TX
Posted

Hey BP family,

Wife and I are renting our upstairs bedrooms. we claim the rents on our taxes, we have a real lease, BG & credit checks, ect on tenants. we've been doing this for about 15 months. Can we, After two years of tax returns, Get our Debt to Income adjusted to account for the rental income? If so we would like to get another Mortgage, move into the new home and start the cycle over again. this SFH is our homestead (Not in an LLC)

PITI - 1780/M

Purchase price - $184,000

total rents - 1200/M

Loan - Conventional with 3% Down (not much equity yet)

any thoughts? what can we do now to prepare for this?

Thanks,

MB

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