The live-in-then-rent strategy uses owner-occupant financing to acquire a property as a primary residence, live in it for the required period, then move out and convert it to a rental rather than selling.
Log in to followModeling acquisition three on paper before I commit to anything, and the lending side is where it falls apart. Current picture I'm working from: property one PITI $1,850, market r…
I live in one side of a duplex I bought a bit over two years ago. Both sides are identical, two bed one bath. My side has been my home the whole time, the other side rents for 1,3…
Two done, going for the third, and this is where the qualification problem stops being theoretical. Property one: bought at 3.5 percent down, PITI 1,640, leased at 1,975 for the l…
Small multifamily is where I actually want to end up, so the plan was to run the live-in-then-rent chain through 2 to 4 unit buildings instead of houses. One building a year, live…
I've been building a spreadsheet for months and I want somebody to tell me what line is missing. Target is a 285k three bed in a working neighborhood about 25 minutes from where I…
I've been reading loan documents rather than blog posts, which may be why I'm confused. The security instrument I looked at has a covenant saying the borrower will occupy the prop…
I'm three rungs in and the qualification problem is now bigger than the deal problem. The first two houses are on owner-occupant loans at rates I will never see again. Third one c…
Converted my third one in February. 1978 split level, 1,640 square feet, bought at 268,000 with 5 percent down owner occupant, rate 6.5. It needed a roof, the panel was a mess, an…
I read the occupancy affidavit on my last closing package cover to cover, which apparently nobody does. The document said I intend to occupy as principal residence within 60 days…
Writing this up because everything I read about live-in-then-rent describes the accumulation and almost nothing describes the qualification wall. Property one: 268k, 3.5 percent d…