All Forum Posts by: Tomas Nuno

@Dave Meyer Got it thanks for the advice!

@Matthew Kwan Hey Matthew thanks for the reply! I'm a professional basketball player working in different countries and usually travel all across the current country I am in. Thank you for your advice, with my unique situation I'll need to find the right people to work with. 

@Wale Lawal Thank you for the advice Wale! I've heard conventional loans can now be used for house hacking at 5%. Is there a reason you would choose an FHA loan over conventional?

Hello everybody. I am looking to begin investing by house hacking and am looking for some guidance. A little background info about myself, I currently work outside the U.S. for 9-10 months out of the year and live in California.  

My question is can I purchase a property as a house hack in a different state even if I never actually live in it? My plan would be to stay with family in CA the 2-3 months I am back from work in the U.S. , and have the property 100% rented out for the year. Is this possible since technically the property would still be my primary residence?  

What if I were to purchase a property with no tenants at the time? Could I use an estimated rent amount based on market comps?

I’m attempting to figure out a rough estimate of my purchasing power and want to make sure I am doing it correctly. From what I understand, all monthly liabilities, principal, interest, taxes, insurance, mortgage insurance and personal liabilities( such as car payments) cannot exceed 50% of your monthly debt to income. If I am planning on house hacking, can I use 70-80% of my potential rent as income as well? And would that 70-80% be added to my income before or after dividing it by 50%? 

Hey all,

Does anyone have a trusted lender in Houston. Specifically for house hacking/FHA loans?

Let me know, thank you!

@Hunter Reed Appreciate it, you too!

@Ryan Thomson Appreciate the resources! I'll check them out

@Bruce Lynn have no plans to move yet, I would only move if I decide to house hack there.

I don't mind paying a portion of the rent to begin with, eventually I would want to move out completely and rent all of the unit or units out to maximize cash flow. My price range would be about $350,000, and from what I've seen on the MLS it looks like I could get a duplex at that price. I would have to do more research on which neighborhoods are best to invest in though.

Thank you for the advice!