All Forum Posts by: Aaron Shoemaker

Great, @David Shpigler and @Michaela G., look forward to meeting you!

Sounds good Scott, look forward to it!

This event is for those who:

• are seriously interested in investing in real estate (actively investing or taking steps to start)
• want to exchange ideas, tips on deals, and encourage each other
• investing anywhere, but especially in the extended Atlanta metro
• but live in Brookhaven/Chamblee and don't want to drive very far to meet like-minded folks

For this first meetup, let's not be too formal. Let's just show up and enjoy the time at Kaleidoscope, a good pub on Dresden in Brookhaven. We can figure out what is most helpful to the group to structure it going forward.

Please indicate you're joining so I know how many seats to book.

Hi Atlanta folks,

I'm looking for bank recommendations in the ATL metro area.

What I need are lenders who will count new or expected rental income in their debt/income ratio calculations.

Context is:

• I am renovating 1 property (rental)
• Just made an offer on a new primary residence
• Intend to keep our current primary residence as a rental

So, I've talked to a large national lender who is counting the full PITI of all 3 properties against us, with $0 rental income figured in the equation. That makes our debt service / income ratios above normal limits.

They won't include any rental income until it shows up on tax returns (1+ year from now)

But, both the rental and current primary are in good markets and will rent very quickly (if priced well). 

Please let me know any recommendations for banks who are savvy with including rental income in advance or at least once a lease is signed and deposit in hand. Thank you!

Aaron