All Forum Posts by: Ash Hegde

Agree with Tim, an agent who is also an investor has a great chance of having the connections that you need (lender, contractor, property manager). 

As long as the CPA is comfortable with the states you invest in, they can be located anywhere.

For income tax purposes, a single owner LLC is disregarded and treated the same as the individual owner. You will still get the depreciation, mortgage interest, and other expenses if you leave it in your name. An LLC is used more for asset protection, which may be a benefit to you, but Wayne brings up good points about possible complications since you are occupying it.

Hey Owen, you'll have a similar pre-approval process for FHA vs conventional. With both loan types you will need income and asset verification. It is important to have a lender who understands investing because rental income can complicate the DTI ratio and affect the amount you qualify for if it is not calculated correctly.

Welcome Jean! House hacking is a great way to get started!

Nice job Justin! Hope they perform well for you!

Welcome Christopher! Are you looking for 100% funding by OPM or do you have some money to put down and need hard money to provide the rest of the acquisition and rehab for the flips? 

Agree with Scott, a title company should be able to take care of this for you.  

Hi Taylor, for a long term cash out refinance, you are likely going to be looking at a DSCR loan. Hard money loans are generally used for short term acquisition and rehab.

Hey Dean, in your scenario, if property 1 is being rented when you refi, you will get the investment loan rate and terms. It still may be worth it if the rates drop enough. 

Agree with Bill, no income tax problem with doing this. If you personally guaranteed the card, you should be disclosing it on a conventional mortgage application (DSCR loans have less concern about personal debt to income). Other than that, if you are comfortable with 100% leverage, there shouldn't be any issues.