All Forum Posts by: Nathaniel Yip

@Dave Foster currently used for personal use since I think the financing terms was that it cannot be used as a rental for a year. We just passed the year so now I’m looking into what options we have to use the equity without having to pay a tax on upon sale.

Can a second home be rolled into an investment home property either using 1031 or if there is a tax shield like primary homes? This second home has only been owned for a little over a year and has gained some equity. If this is state dependent I’m in CA.

I think I remember something about it having to be reclassified first for a certain amount of years first.

@Nikola Dokic congrats on closing! May I ask why you chose this duplex at this price? From most analysis I do, I can’t find any that would cashflow or even break even at this price point once I move out.

I’m also looking for some that happen on weekends!

@Marlene Newell I’m not in the area but working to invest in the area so I’d love an online one!

@Jerry Sidhu hey Jerry! Thank you for your service. I’m also based out of the Bay and regularly go between the bay and Sac. Also starting my journey. Let’s connect sometimes!

@Suba Sudhakar Hi Suba, I’m actually in a similar position to you! I’m also looking to invest in Sac as well. I personally really like to go anywhere East towards Rancho Cordova or south of Sac towards Elk Grove, while north tends to be a little rougher and not much to the west from what I can tell. South seems like it’s developing quite a bit though.

@Trevor Alexander that’s some really helpful advice! On your last point, do you know if someone co-signs with me, they’re still eligible for their own first time home owner loans? Or does that co-sign eliminate their chance at that too?

@Jeff Shumway no I just looked at other online lenders like better.com that approve using soft checks. I wanted to gauge how much I could start with and figure out where I could go and what I needed to do in order to start. Essentially road map building

@Christian Rozo thanks for the advice! I definitely have been looking up ways to boost credit. However, I've always heard having too high of a DTI ratio makes it difficult to get approved for a loan. Why would decreasing that make it worse? (Ex: paying off student loans)