All Forum Posts by: Ehab Habib

Pay off large lump sump

Of mortage or refinance and use money from refi to invest in another property and keep the large lump sum of cash as reserve I have a 3 unit and looking for another rental.

complains constantly about everything older gentleman but other then that is a good tenant always pays on time Thinking of raising his rent from $730 to $770 he lives in a 3 bedroom apt in Scranton pa and those rent for more then $800 is this a smart solution thank you everyone in advance 

 About 110 miles 

Yes it would be owner occupied  

Employment is in New Jersey but planning to use fha on house in Pennsylvania job is about 1 hour away going to commute daily will I have a issue from the underwriter I will live In one of the 4 units 

 Interesting how so and thank you for the reply 

My mortgage is not showing up on my credit report can this be positive for my dti ratio for my next property that I plan to take a loan out on? 

I’m going to be the new owner taking over and I haven’t had anyone sign anything yet until The pm Takes over 

How would you pay the rest of the months rent to the new owner so the security deposit Should I request a check since closing is the 5th of August 

I don’t know the difference yet but it’s last it’s life time and it has a small leak and I was thinking of it from a equity stand point as well to add more value to the house to lead me into my second house