All Forum Posts by: Christian Montalvo

Meet with a lender who is familiar with the process. I have been able to do this with my 2 FHA loans and even had a private loan where they allowed it.

Sounds like your friend is struggling with depression. I would try encouraging him with other positive activities: Exercise, reading books and even encouraging him to find a side hustle. Seems like he's a smart guy with serious potential, just needs a break to help get him out of this rut. How often is he applying for jobs? It  took my husband 5 months to find a job after graduation but he really started getting traction when he started treating applying for jobs like a full time job. Basically if he wasn't working at home depot (his job at the time) he was applying for jobs, he was also making time to meet with people in his field trying to create connections. I would definitely not rent to him because your rental properties are a business and shouldn't be mixed with friendships but there are other great ways you can help him. Also an audio copy of the 10x rule and miracle morning can be a good kickstart for him! But if he doesn't want to read them or he doesn't want to do any of the ideas you propose to him it sounds like he's not interested in helping himself. In this case, I would just keep showing him love and encouragement, but don't exhaust yourself trying to fix his problems. 

My husband and I have done two “House hacks” in the past 18 months that have been profitable in cash flow and appreciation! I don’t know if that’s the route you’re looking for but I know we are going to continue investing in this DFW market!

Love! Congrats!

If there are already tenants then that probably means they are fine with the current color of the carpet. When we have inherited tenants we just do repairs as reasonable request come in... then if we want to increase rent or the unit becomes vacant we do repairs/upgrades. Good luck! Post pics of the purple carpet! 

Hi everyone! I'm looking for an insurance provider for a 4-Plex I am closing on. Thanks! Christian

Hi everyone! My husband and I are looking for a good handyman in Dallas. Currently need my tenants sliding glass door repair but looking to make a relationship with someone that we can call as needed. Any recommendations/suggestions?! Thank you!

thank you Upen! I appreciate your response! 

Hi everyone! I was hoping someone could help me understand this issue I have run into... or send me a link where I could read more about it. My husband and I bought a duplex with an FHA loan in Dallas for $206K March 2016. One side has been our primary residence since then (we rent the other side out). I find myself bored on maternity leave in May of 2017 and decide to call Wells Fargo Home Mortgage to ask about a cash out refinance because I hear that the duplex next door to me appraised for $265K. The WF home mortgage Rep gets me all excited saying that it looks like we can refi and pull out around $10K cash! So we fill out the application but then he calls and says that the underwriter won't let us do a cash out because the duplex isn't listed as an investment property? I thought I remember not being able to label it as an investment property when we were applying for our FHA since it needed to be our primary residence for at least 1 year. So apparently we can only do the refinance... he said that he didn't know this either and told me to google it, but I'm having a hard time finding this exact verbiage. Can anyone explain this to me or point me in the right direction for some decent reading material on this particular subject? Thanks! Christian