All Forum Posts by: Ed Ventura
Ed Ventura has started 2 posts and replied 4 times.
There are so many programs to choose from. I've been using stessa, but seems like they are charging for more and more lately. Plus I don't really like their interface.
I'm looking into Baselane and TurboTenant - I know bigger pockets is sponsored by Baselane, but want to get everyone's opinion on which they prefer and why. Thanks in advance.
Quote from @Bryan Montross:
This is where you need to just start thinking outside the box. I don't know if any of these ideas will work, but maybe worth pursuing.
Thank you so much for these ideas. This is what I'm looking for. This is my first really big investment purchase, although I've airbnb for 15 years and rented another house that I have, but never to this scale. But this does get me thinking about creative ways to get this done.
Quote from @Tanner Lewis:
Hey Ed - this one wouldn't qualify with DSCR if one of the houses is your primary (assuming all are on the same tax parcel). If they are on different tax parcels, I will use DSCR for the non-primary deals and then FHA or UDSA (assuming it is rural) for the owner-occupied one.
Hmm, he said it's not possible to split them up, so I'm assuming they are all the same parcel. My issue is that I don't think I'd be able to qualify without the rental income on my own W-2. And my DTI definitely wouldn't qualify me.
I am considering moving my family down to pigeon forge and buying a lot that has 3 houses on it. We'd live in one and rent out the others as STR. the purchase price is going to be around $1.4 million. I have a lot of experience with STRs being a superhost for over 10 years and I believe I can bring in 200k for these houses combined.
Ho wwould you go about the financing for this deal? FHA 5 percent down? I don't have a lot of cash, could probably find 150k to put down.
Doe tthis qualify for a DSCR if on eof the homes is my primary?