All Forum Posts by: Naz Hossain

Yes is it very feasible. Without rental counted DTI is 50% but with rental counted, I am guessing it will be more like 43-47%. And you are correct, rental income usually is discounted to 75% in most cases IF there is no lease in place. If there is a lease in place, then rents should not be discounted. The rate you have your current house is solid. You could possibly do a lease option to help with the 20% down payment (which you do not need) and also charge a little premium to help you DTI.

 Funny you said that. I got off the phone with an appraiser yesterday and they pretty much said the same thing. They talked about appeal and marketability

Hey BP community, I have gotten a lot of different opinions on this. But wanting to reach out to a large pool of audience to see what their experience have been. I want to try and achieve a high appraisal but the black finishes are about twice as more expensive. I am doing a 4 unit with 8 bathrooms in total. So the double cost really adds up. 

My question - do homes with chrome finishes appraise lower than house with black/gold/non-chrome finishes?

It really depends on what your goals are and what you can handle. Everyone's path is different. You can reach your goal with 100 doors or 10 doors. You could go section 8 or you could go ultra luxury. It all depends on what exactly you are looking for. It will also depend on how your finance looks like, what you can afford etc. 

That being said, I love San Antonio. I am biased though, I am a texan and spent a lot of time in the area. I come across a lot of properties in the area as well. I focus on the inner city though. The areas you are looking at are definitely worth your while. They are more suburban areas but not large metropolitans like Austin and/or San Antonio (except for converse, it's still considered San Antonio). 

Let me know if you want to chat about your goals and I can point you in the right direction. I don't know everything but I know quite a few people! 

I am also curious as to why you cannot househack. 

I wouldnt touch those loans. Those are an absolute killer rates! You can try to get BLOCs (Business LOC) from a bank or maybe even your current lender can give you a LOC.

You can start to explore other acquisition methods like seller financing or subject to where down payments are much more negotiable than with banks 

 @Susan Owen Standard Operating Procedure

Thinking that you need to find reliable people. You actually need reliable SOPs that anyone can follow. If one cleaner does not show up, you can quickly source another cleaner and the onboarding is a matter of sending them our SOP. 

Cleaning SOP

Messaging SOP

Maintenance SOP

Emergency SOP

The list goes on. But once setting up your SOP is probably the toughest. Everything after that.. truly is a walk in the park

Anywhere in San Antonio

Check what comparable units are renting for. The same way you found the ARV. Also I would double check that interest rate on the loan before you crunch numbers. Are you sure you are able to get that rate in todays climate?

Use rentometer.com to find rents in the area

Looks like you need a new insurance provider.. I dont think I have seen a policy where it would exclude pipe bursts. I would really dive deep into your policy, maybe contact your broker, he could possibly help. Getting an attorney is going to be costly. As the saying goes, will you be throwing away good money for bad money?