All Forum Posts by: Jake Collins

Hey all,

I got into short term rentals about 9 months ago and have just been collecting all of the income direct into a savings account which I have not touched. I recently purchased a second property and am looking to leverage that income to pay for the new furnishings. I also have an LLC that I haven't done anything with yet. Should I switch that income over to the LLCs bank account and then buy furniture from there? Or is that unimportant.

Thanks in advance!

Hey Mike,

Thanks so much for the info. Yes, it would be our new primary and we will be living there full time. I suppose that makes sense. Our main reason is our previous house will do so well as a rental. But there are reasons we like this house comparatively as well. I can certainly supply some.

Hey Kevin, 

Thanks for the reply! Unfortunately, that is not it because they are well aware of my plans to rent the old house and also cleared me from a DTI standpoint. Which makes this ever more strange.

Hey all,

My lender is now telling me the branch manager is getting cold feet about taking my loan because we are moving "too close" to the current home. For background, we have lived in this house for a full year. We would be moving down the road (same street name, but a five minute drive). The lender is saying they want me to provide an explanation for why we are moving or even list my house for sale. It was my understanding that after a year I can move for pretty much any reason I want and keep the old house as a rental. Am I missing something? Has anyone else ever run into this?