All Forum Posts by: Asher Anthes

Hey guys, I'm looking to read up on buying and holding the right way. Any recommendations on good books out there? Preferably something written recently so it takes into account our current housing market situation. Thanks!

Thanks for the advice! Hopefully this will help.

I just bought my first house in may of this year. When I closed my loan my scores were around 700. The mortgage just appeared on my credit report last month and my scores today were in the 660's - 680's. I figured my scores would have been going up since I have paying everything on time.

Also, do high balances on student loans lower my score? I'm making all my payments on time, but maybe I need to pay down some more of that debt to higher my score?

Thanks guys.

Okay, so I've been learning about NOI and cap rates and I'm curious to figure out what mine is for the house I currently own. I live in it, but also rent it out to some friends.

Purchase Price: $105,000
Renovations: $15,000 (not sure if this is included)
Gross Yearly Rental Income: $16,200
Property Taxes: $2,200 per year
Home Owners Insurance: $330
HOA: $190
Other operating costs (eg. routine rerpairs): $400
Vacancy rate: not sure what number to use here??

NOI: $13,080?

Cap rate: $13,080 / $105,000 ?? 12.5%

Is this close to correct?
And, where do I factor in debt service? Because that seems to be a more important ratio as that reflects my cash returns?

Thanks for the help guys, I'm new and have a lot to learn!

yeah, I've thought about that. but I really want to get into the buy and hold strategy for the long term. I have the 10 - 20 % for the down payment. I just want to find a way to get financing. My income can totally support my debt (considering I'm profiting on my current property I live at), but the banks won't recognize this.

Hi guys, I'm brand new to the site. I've been reading a lot here and can tell I'll be spending alot of time on here.

I just bought my first home in may of this year. I'm looking to purchase my first investment property as soon as possible. I've talked to a few lenders, but it seems my debt to income ratio is quite tight because of my first mortgage.

I'm living in the house and renting it out to friends as well. My monthly rental income is $1350 and my mortgage payment is $866. But the banks aren't able to count this income on my debt to income ratio.

What's my best options for getting approved for financing? How much of potential rental income on the new investment property could they use for my ratio?

Thanks for the help!