All Forum Posts by: Jason Barton

Hello,

I am curious if anyone has done a 1031 exchange with an existing rental property for their primary residence and converted that property to your investment. 

We are looking to upgrade our primary residence (and our investment property). We were thinking about selling our current investment property and doing a 1031 into our primary residence? We would of course move out of the primary and thus make it an investment property. 

The reason we were interested doing this is we know the house well, what it does and does not need, and it is nearby where we live. It would also remove the need to quickly find a new property per 1031 requirements.  

Curious if anyone has done something like this? Do we need to sell the primary residence to ourselves??  

-Jason

Hello,
I am looking at multiunits in the Boise area, but will need to finance a portion of the purchase if that is possible. From what I am hearing it is pretty darn competitive. I am looking for loans based on the financials of the property and not my Income, Employment, and DTI. I am curious about what is available locally.

Hello,

I am looking to invest in a multiunit property, but I am nearing the debt to income ratio most banks require. I do not have the funds to pay all cash for the properties I am looking at. I am curious as to how specifically loans work that is based on rents? As I understand most look at the income against expenses and assume a 10-20% vacancy factor.

1. Are there general rules for these kinds of loans (i.e. rent must exceed expenses and debt servicing by X %, down payment requirements )?
2. Are the specific banks that focus on these kinds of loans?
3. Assuming the rent pencils out is your debt to income still a factor?

Any guidance is most appreciated

Regards

Jason

Hello,

I have a property I need to do some foundation and structural improvements on. I am looking for general contractor referrals in the north bay, specifically in the Santa Rosa/Guerneville area.

While I am here are recommended RE Groups for the Santa Rosa area?

Jason

Hello,

I have a rental property that I have owned for over ten years. I was looking to refi and pull some money out, but the mortgage brokers I have met with keep telling me that for a rental property they have to different LTV; as opposed to the normal 80% they are telling me they need 60%. This makes it difficult to get a significant amount of equity out. I assume there must be lenders out there that do something closer to 80%. If one follows the BRRRR method, you're not doing a 60% LTV are you?

Thank you

jason