All Forum Posts by: Eric Krasinski

Zillow/redfin/trulia average around $250K. $90K left on mortgage. In our area, I am confident we could get $1,700 monthly rent, possibly over $2K with some remodeling ($50K). House will not be rented out before we move into new home.

So, wondering what moves to make now to put us in the best position for liability, cash flow, personal debt/income, and qualifying for best mortgage for new house (we are going to have a big combined family).

Would BRRR method apply here?

My fiance and I are getting married and combining our families (we each have kids from previous marriage). She currently has a house, I have an apartment, and we need to get a bigger house for our new expanded family.

Question is, what is the best way to keep her home as an asset, renting it out to another family (our school district is VERY desirable)? Also want to keep the property because the value is increasing rapidly. Should we just keep it and the existing mortgage in her name, the way it currently exists? Should we create an LLC and sell the property for liability purposes? We need to also do what's best to give us the best opportunity to get a new house.