All Forum Posts by: Skyy Dugger

@Ty Coutts it would be my first property so using the existing income on the property to offset dti ratio to purchase the first one.

Wonder what typically lender will lend on income of previous years on str rental property

Looking to new build 12-100-200 units will the bank loan on projected cashflow like small fha loan accepting 75% of rental income as your cashflow. Will the bank give you this on a new larger build is it potential or possible. To build bigger than your current cashflow we are about 99% occupancy here there is a need to build, and new developments are rented out about before they are they are built. Having an investor that is well established and has some pretty good cashflow looking to diversify a portfolio.

@Bradley Sainsbury

Winn electric in timmonium est 1967 lil high but not 2k but i gurantee they will allways get you 1000% worry free on all your electrical needs i work for them for a few years. Never seen a short cut. Always legit or werner electric from he was a tech that got license and does good workid say 200 a room id cut the box out put 2 gang in for cans separate fan light and put a remote on the fan just running one new wire to the first can disconnect the line out of the fan

Looking at str with income records from a year ago.

Will that income account for some of the monthly payment like multiunit would for 75% of the monthly offsetting that monthly payment able to get into a bigger property thanks

@Gabriel Miritello

He is probably so booked everything is busy when dont want it but if you want it tomorrow fast thats it.

2 grand for panel -3 in cali areas

6 probably for the rewire

Since prices have doubled

Afci breakers probably 1k not sure what nec is in area

But its about to go up

I could

@Brenden Mitchum

Thanks ya that makes it pretty well clear i heard had to refi out to get another fha wasn’t sure if their wasnt any existing rent toll how long it would take a lender to consider ofsetting current debt on that building

Thanks for your time.

Hey looking at buying a property or condo fha loan.

After one year of primary residence, if i have to move and put a tenant in place how long do i have before the rent roll will offset debt for another loan or how quickly could i get a loan for a another fha property

@Alex Scotte well i dont have to say much here, maybe consider smart locks where u just have to change the code. Not a big fan of the wifi stuff unless its a Short Term Rental/ nightly and u can remotley unlock for repairman or cleaners.

@Warren A.

The aluminum is fine for the most part, swap the panel to breaker panel. Especially because fuses when pop and pop get costly and if a larger fuse is easily replaced to solve over loading it will start to melt the wires and will need to be rewired if that is the cause causing shorting.