Real Estate Agent · New Richmond, OH · Member since 2017 · 25 posts · 13 votes
I am trying to buy my next house but I want to keep my old single family as a rental, I dont have 2 years of rental history and I have never worked as a property manager so I am wondering if anyone has any tips that I could use to try to use my projected rental income from the house I keep towards qualifying for another mortgage, or another strategy. Any comments are welcome.
Hey Kameron, as long as you have an executed lease, you should be able to use 75% of the rental income from the property to offset the mortgage payment.
Hey Kameron, as long as you have an executed lease, you should be able to use 75% of the rental income from the property to offset the mortgage payment.
I asked about that but i was told that without proof of being a landlord previously they couldnt use the projected rental income.