All Forum Posts by: Humberto Perez

I'm doing my taxes and when I plug in the numbers for my investment property it shows a passive income loss due to the taxes and interests on the mortgage. Would this hurt me if I want to get second investment property since the bank will not consider my property profitable  even though I'm making $225 cashflow a month. I'm renting it for $2000 a month and mortgage is $1775. I talked to a lender and they said my property is considered a liability since it shows a passive income loss on my taxes. Could someone please help understand this. Thank you in advance. 

@Bruce Lynn thank for your input. I have a property in Texas already and I am paying that 10% to a management company which eats my cash flow.

My goal is to go back to Texas after my military career.

My goal was to buy a property at every single duty station using the VA loan. The disadvantage would be that I would have property throughout the country which would make it harder to manage.

@Marlen Weber I own a rental property In Houston was planning to get a second one but I had to move to Bethesda MD. Now I’m going to Oceanside CA and will be there for 3 yrs I’m debating if I should purchase a coastal property or stick with the market in Houston since it’s cheaper and I’m more familiar with.

@Jon Schwartz you are right no more costal real estate is being made. My wife and I are both active duty so we both get the VA loan benefit. We are going to look into the multiple family options and see how the numbers look.

I’m active duty military and I just find out that I will be moving to Oceanside, CA. I want to weigh my options should I buy or rent? I plan to stay there for a Max of 3 years and then I would have to relocate. I could buy and hold but I know CA is very tenant friendly. My other option is to invest in my hometown Houston, Texas where I could get a rental property for a fraction of the price that I would pay in California. What do you guys recommend?

@Derek Harris thanks this is great info. I will pcs in a few months. Don't know where yet if I do stay conus my goal is to get my second home using the VA. I will have to educate myself on this process.

@Andy Turnauer I was putting 10% down on a 166500 loan my fico score is 804 I do have another property which I’m renting out in Texas. I live in Maryland due to military orders and paying 2400 in rent. They wanted me to put more down to reduce the loan to at least 142k. I submitted all my documents was preapproved and 2 days before closing underwriting denied me.

@Tom S. Thank you it was rookie mistake

@Eric X. On the addendum it stated that I would get financing within 21 days of executed contract

@Fred Shatzoff I did paid appraisal, inspection and 2 days before closing they told me that Debt to income ratio was too high. I have another property that I use as a rental and claimed it as a loss last year. The lender states that this hurt my debt to income ratio. I think the should’ve caught this before and not 2 days before closing.