All Forum Posts by: Sergey Mikhaylyuk

Luka Milicevic, so if I get the conventional loan, I don't have to wait one year to rent it out?

Thank you Lindsey Iskierka! I'm buying in Nashville, TN area. 

Any help appreciated!

Hi everyone! I'm about to close on my first home. I was going to buy this home as my primary location, but now I don't want to live there. I would rather rent it out and keep looking for a different house for myself. It too late for me to walk away because seller would keep the earnest money which is a lot ($5000). I talked to my mortgage broker and she said I can't renting out a house if i buy it with the FHA or conventional loan and I have to live there for at least 1 year. I have an option to buy it either with FHA 5% down or conv. 20% down, I'm still thinking which one should I choose.

I'm kind of stuck here because if I buy this one I would not be able to get a preaproval for a second house unless I rent this one out, I guess. To get an investment loan wouldn't make any cense because it wasn't a good deal at the first place and with higher interest rate it won't get any cashflow.

Any suggestions on that?

Hello BP,

I'm looking for a real estate Attorney in Nashville, TN area. Would you happened to know affordable and smart one?

Thank you in advance!

Hi @ Kara Jordan,

If you can share landers that you like to work with, that would be great to have extra option.

Thank you!

Thanks a lot to all of you for a comprehensive answers. 

Hi everyone,

A question from a very newbie...

My friend is looking to buy a second property in Nashville, TN area. First more expensive property for personal use was bought 2.5 month ago with low downpayment and low interest rate. Now she is ready to buy a second property and someone told her that it would be an investment property with 25% and higher interest rate because this property is less than 100 miles away from personal residence. Does it always work like that?

I thought that you can acquire a few properties with 20% and interest rate as low as you buy a real estate property for personal use. 

Thank you! I'll check on that.

Is there a way I can pull some public record on property tax payers that would have addresses of people are living in the area I'm interested. If yes, how do I get it?