All Forum Posts by: Zachary Ware

This is a great question. I was under the impression that the self-sufficiency test was only required when your W2 was not enough such that you could add the rental income @ 75% to your income. Would love to know where to find this in FHA guidelines as well.

That system is insane. You are correct, I have not heard of the back taxing happening here in Texas unless it involved a homestead exemption that should not have been applied. 

I agree with the others. Sounds like you should get it over with and kill it. 

Seeing the same issues here in Texas. Not much you can do about it from what I understand.

Great Perspective! Thanks for sharing. 

The size of the property can help you determine who you should be looking at for debt. For example, a 5-10 unit property you could look at DSCR loans but for a 20-100 unit property you could look at a local bank/credit union.

No, lenders do not typically source deals. I was just calling attention that BP "Build Your Team" has great resources for both agents and lenders that could help you out with investing in properties of this sizer. 

I would recommend getting a call and walking through the lease before signature so you know that the tenant has went through all of the information. Many people when e-signing aren't even going to take a glance. 

I have seen some very good ones including an event with free food, fitness classes (YOGA as had a bigger attendance than I would have expected), cooking workshops, and arts and crafts. 

I have not encountered this but I would assume that they would expect you to be as qualified as the original borrower and meet all of the same criteria. Would love to hear the experience from someone who has assumed an FHA.