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 followFour financed properties including the current primary. Gross income about $11,000 a month, ratio sitting around 44 percent by the way my lender counts it, which means the next ow…
I keep poking holes in strategies and this is the one that survives every objection I throw at it. Buy as an owner occupant, live there the required year, convert to rental, repea…
I mostly research land and holding patterns, so buying a house to live in feels like a different sport, and I want to check whether I understand the basic shape of this before I s…
Running the ladder out on paper and the failure point isn't where I expected. Property one: 340k, 3.5 percent down FHA, PITI plus MIP at 2,650. Market rent 2,450. Property two tar…
I look at loans from the lending side rather than owning, so I understand the origination math better than the aftermath, and I want to fill that gap. Say someone buys with 5 perc…
I want rental income without picking up a second job, and this strategy keeps coming up as the low money version. What I read: you buy with 3.5 percent down as an owner occupant,…
Modeling 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…
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 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 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…