All Forum Posts by: Erwin McClain

FHA

Hello BP members, I have a quick question:  I'm looking to purchase a house hack property by the end of 2025, my concern is after getting the property and rehabbing it.  Once its done, how can I ensure that I can refi into a 30 year mortgage.  Won't my credit take a hit ? what about D.T.I. ratio with another mortgage being added to my credit ?

I had rental properties out of state but I have been renting rooms in my primary residence for over 10 years since my 2 boys have moved out. I stay in the basement, I went thru ups & downs like everyone else,  What has worked for me lately is renting to senior men (55+).  They tend to stay to themselves, not a lot of company or complaints.  This is the most peace I have had in years.

@Derek Brickley Thanks for your response

Just curious, has anyone used "Globus Lending" for deals recently ? Looking for lending for house hacking

Thanks @Greg Kasmer, that’s exactly what I was thinking. Just looking for some options & opinions 

Hey @Drew Sygit, I'm literally just turning my SFH into a house hack coliving rental. I have male seniors whose income is verified thru retirement/disability payments. I'm trying to save PM fees by using rent redi software for the time being until I am able to scale up

Quick question about property management:

In your opinion, is it better to hire a property manager (pay about 7-10%) for a company or use a software system to save money ?  Asking for rookie investors

Ok thanks, I thought it was a hard copy

I totally agree @Anthony Swain.

I had a rough road house hacking & doing self management.  Things are coming together slowly but I'm learning a lot.

Thanks for sharing