All Forum Posts by: Brian E.

Hello BP Community,

Does anyone know where I can locate the source about...

"After a year of living in the home, you can legally move out and rent the property. There are no laws against doing this. However, unless you own 30% of the property at the time you rent it out, you will not be able to get another loan until you have two years of landlord experience with that home on your taxes.". 

https://www.biggerpockets.com/renewsblog/2015/03/2...

I can't find it on the IRS website.

Thanks in-advance!

-Brian 

My goal is replace my current job and run an investment company that focuses on purchasing, renovating, and renting out homes for monthly cash flow by working with partners to make it all happen.

In search for different strategies for starting off by using an FHA loan for a SFR or duplex investing between Redwood City and San Jose, CA.

Currently studying for the California real estate exam while working full time.

Frequent podcast listener on Real Estate Investing.

Books read:

• The Book On Rental Property Investing
• The Book On No and Low Money Down
• The Millionaire Real Estate Investor
• What Every Real Estate Investor Needs To know About Cash Flow...And 36 Other Key financial Measures

My current status is on "analysis paralysis". Been having a rough time using Frank Gallinelli book to understand the calculations behind the BP calculators.

Looking forward to developing connections within the BP community.