New answers tagged rental-property
0
I did this with my first three properties -- I bought them as owner-occupied, lived there for 1-2 years while fixing it up, then converted it to a rental and moved (literally) to the next deal. In order to qualify for a loan on my next property, I simply needed a signed lease that my current home would be rented at a certain rate. A rental history was not ...
1
HOA's are extremely stringent. Having said that, it's very unlikely they will pay for any damage related to your, or any, vehicle. It can boil down to the HOA Board, so it's hard to assume what they will agree on, but I can assure you, based on experience, that it's very unlikely they'll pay out on this claim. I don't mean to be a downer, I just wanted to be ...
6
But if I live in one and rent one out, the bank only considers me
having rental income of $4000. (The bank doesn't consider my rental
expenses, but if I rent my own house out, the bank considers the extra
income).
Actually they will not credit you with rental income of $4000. They will assume that you will sometimes have months where the property is ...
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