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All Forum Posts by: David Sumner

David Sumner has started 3 posts and replied 4 times.

Post: Rental Property Sale - 1031

David SumnerPosted
  • Orange, VA
  • Posts 4
  • Votes 0

will a 1031 exchange work for a single family rental property ==> duplex where i live in one half rent the other?

Post: Subsitute Teaching

David SumnerPosted
  • Orange, VA
  • Posts 4
  • Votes 0

My wife is currently a long term substitute teacher.  She works 37-39 hrs a week.   I was wondering if anyone had experience with this situation with regards to how banks view it in terms of employment requirements for getting a loan? She has a "contract" till the end of the school year but then there is summer vacation. Does the two months break matter? Even she resume's in the fall?

Thanks for your time

Post: DTI - Buying Second House

David SumnerPosted
  • Orange, VA
  • Posts 4
  • Votes 0

thanks for your replys

Post: DTI - Buying Second House

David SumnerPosted
  • Orange, VA
  • Posts 4
  • Votes 0

I'm just getting started in REI so this might be a simplistic question, but here goes. I own a house that is being rented. Want to apply for financing of second house as a primary residence. Will the rental income of the first house cover the mortgage debt on same house with respect to DTI? Thanks for your time