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 followThis is the loss post. It went fine on paper and then I ran out of money. Bought a 3 bed ranch at 244,000, 3.5 percent down FHA, so 8,540 down and about 6,600 in closing after a s…
First house, 3 bed ranch from the seventies in a mid-priced suburb, $268k, 3.5 percent down on an FHA loan, so $9,380 down and about $7,000 in closing costs. Full payment was $2,1…
Finished this one last spring, so I've had time to be calm about it. Bought a 1963 ranch, 1,450 square feet, 246k, 3.5 percent down. Plan was to live in it 12 to 14 months, fix it…
Writing this out because I want somebody else to catch it earlier than I did. I bought a townhouse at 249k with an FHA loan, 3.5% down, so 8,715 out of pocket plus about 4,200 in…
I closed on a 3 bed 2 bath in a decent school zone two Aprils ago, 5 percent down conventional as an owner occupant. Purchase was 312,000, so 15,600 down and 7,100 in closing cost…
I closed on house number four in March and the rental lease on number three started April 1, so the sequence held for another year. Posting the actual numbers because the version…
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…
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…