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Updated over 2 years ago on . Most recent reply

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13
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5
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Tyler Lyren
  • Cleveland, OH
5
Votes |
13
Posts

Bought house hack how does it affect next purchase?

Tyler Lyren
  • Cleveland, OH
Posted

Hello! 
So I bought my first house hack and it is going well. Question I am curious about and am having trouble finding info on it. 
I see many people buy a house hack and in a year or so move on and buy another. Since I got a loan in my name and the debt will show up on my credit. How does one go and get approved to buy another since there is this massive new debt on my credit. When I move out and have it fully rented does that play a factor as the lender sees it’s an income producing asset ? What is the method to purchasing more? 

Most Popular Reply

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757
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1,043
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Julien Jeannot#4 House Hacking Contributor
  • CPA, Real Estate Broker & Investor
  • Seattle & Woodinville, WA
1,043
Votes |
757
Posts
Julien Jeannot#4 House Hacking Contributor
  • CPA, Real Estate Broker & Investor
  • Seattle & Woodinville, WA
Replied

Congrats!

I agree, start with talking to lenders.

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