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saiine.
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March 11, 2011 at 9:44 PM #677362March 11, 2011 at 10:14 PM #676217
paramount
Participant[quote=flyer]So glad the aspect of Faith was added to these comments by Paramount.
Other than this, I will make no further comments in this regard, because I really don’t feel this is the proper forum to do so…[/quote]
I would agree, how this thread went from Mortgage Approvals to philosophies of life I’ll never know…
By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?
March 11, 2011 at 10:14 PM #676274Participant[quote=flyer]So glad the aspect of Faith was added to these comments by Paramount.
Other than this, I will make no further comments in this regard, because I really don’t feel this is the proper forum to do so…[/quote]
I would agree, how this thread went from Mortgage Approvals to philosophies of life I’ll never know…
By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?
March 11, 2011 at 10:14 PM #676885Participant[quote=flyer]So glad the aspect of Faith was added to these comments by Paramount.
Other than this, I will make no further comments in this regard, because I really don’t feel this is the proper forum to do so…[/quote]
I would agree, how this thread went from Mortgage Approvals to philosophies of life I’ll never know…
By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?
March 11, 2011 at 10:14 PM #677021Participant[quote=flyer]So glad the aspect of Faith was added to these comments by Paramount.
Other than this, I will make no further comments in this regard, because I really don’t feel this is the proper forum to do so…[/quote]
I would agree, how this thread went from Mortgage Approvals to philosophies of life I’ll never know…
By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?
March 11, 2011 at 10:14 PM #677367Participant[quote=flyer]So glad the aspect of Faith was added to these comments by Paramount.
Other than this, I will make no further comments in this regard, because I really don’t feel this is the proper forum to do so…[/quote]
I would agree, how this thread went from Mortgage Approvals to philosophies of life I’ll never know…
By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?
March 11, 2011 at 10:34 PM #676222bearishgurl
Participant[quote=paramount] . . . By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?[/quote]
Move to SD County and rent for a year. As soon as your current home is vacant and ready, enter into a least a one-year lease ASAP and begin collecting rent on it. Make sure you copy the rent checks you receive before depositing them and keep a copy of your lease. And be sure to copy all your online processed deposit slips in the exact same amount as the rent checks, shortly after receiving them. Do NOT deposit any other checks in the same deposit as the rent check, so the deposit slip will match the rent amount exactly.
After your rental home is “seasoned” for about a year, a lender should be able to consider 75% of that income as rental income against your expenses. Hopefully it will be a positive cash flow.
You don’t currently have any rental history and are still living there yourself, so you aren’t able to show an income from it. You also don’t have a rental agreement or lease for the property in favor of a third party to show a lender. That’s your current dilemma, IMHO, and the only way you can fix it is by vacating it and turning it into a rental.
There is an “abyss” between a “wishful” rental property and a “seasoned, proven” rental property.
March 11, 2011 at 10:34 PM #676279Participant[quote=paramount] . . . By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?[/quote]
Move to SD County and rent for a year. As soon as your current home is vacant and ready, enter into a least a one-year lease ASAP and begin collecting rent on it. Make sure you copy the rent checks you receive before depositing them and keep a copy of your lease. And be sure to copy all your online processed deposit slips in the exact same amount as the rent checks, shortly after receiving them. Do NOT deposit any other checks in the same deposit as the rent check, so the deposit slip will match the rent amount exactly.
After your rental home is “seasoned” for about a year, a lender should be able to consider 75% of that income as rental income against your expenses. Hopefully it will be a positive cash flow.
You don’t currently have any rental history and are still living there yourself, so you aren’t able to show an income from it. You also don’t have a rental agreement or lease for the property in favor of a third party to show a lender. That’s your current dilemma, IMHO, and the only way you can fix it is by vacating it and turning it into a rental.
There is an “abyss” between a “wishful” rental property and a “seasoned, proven” rental property.
March 11, 2011 at 10:34 PM #676890Participant[quote=paramount] . . . By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?[/quote]
Move to SD County and rent for a year. As soon as your current home is vacant and ready, enter into a least a one-year lease ASAP and begin collecting rent on it. Make sure you copy the rent checks you receive before depositing them and keep a copy of your lease. And be sure to copy all your online processed deposit slips in the exact same amount as the rent checks, shortly after receiving them. Do NOT deposit any other checks in the same deposit as the rent check, so the deposit slip will match the rent amount exactly.
After your rental home is “seasoned” for about a year, a lender should be able to consider 75% of that income as rental income against your expenses. Hopefully it will be a positive cash flow.
You don’t currently have any rental history and are still living there yourself, so you aren’t able to show an income from it. You also don’t have a rental agreement or lease for the property in favor of a third party to show a lender. That’s your current dilemma, IMHO, and the only way you can fix it is by vacating it and turning it into a rental.
There is an “abyss” between a “wishful” rental property and a “seasoned, proven” rental property.
March 11, 2011 at 10:34 PM #677026Participant[quote=paramount] . . . By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?[/quote]
Move to SD County and rent for a year. As soon as your current home is vacant and ready, enter into a least a one-year lease ASAP and begin collecting rent on it. Make sure you copy the rent checks you receive before depositing them and keep a copy of your lease. And be sure to copy all your online processed deposit slips in the exact same amount as the rent checks, shortly after receiving them. Do NOT deposit any other checks in the same deposit as the rent check, so the deposit slip will match the rent amount exactly.
After your rental home is “seasoned” for about a year, a lender should be able to consider 75% of that income as rental income against your expenses. Hopefully it will be a positive cash flow.
You don’t currently have any rental history and are still living there yourself, so you aren’t able to show an income from it. You also don’t have a rental agreement or lease for the property in favor of a third party to show a lender. That’s your current dilemma, IMHO, and the only way you can fix it is by vacating it and turning it into a rental.
There is an “abyss” between a “wishful” rental property and a “seasoned, proven” rental property.
March 11, 2011 at 10:34 PM #677372Participant[quote=paramount] . . . By the way, as I recently mentioned I was approved for a new mortgage – on top of the one I already have. The problem is, I want to move to San Elijo Hills. I don’t qualify for the property I would like to buy in SEH, primarily b/c I am not allowed to count what would be my rental income from my house in Temecula.
There has to be a way to get this done, I need to qualify for about 100k more. Any ideas?[/quote]
Move to SD County and rent for a year. As soon as your current home is vacant and ready, enter into a least a one-year lease ASAP and begin collecting rent on it. Make sure you copy the rent checks you receive before depositing them and keep a copy of your lease. And be sure to copy all your online processed deposit slips in the exact same amount as the rent checks, shortly after receiving them. Do NOT deposit any other checks in the same deposit as the rent check, so the deposit slip will match the rent amount exactly.
After your rental home is “seasoned” for about a year, a lender should be able to consider 75% of that income as rental income against your expenses. Hopefully it will be a positive cash flow.
You don’t currently have any rental history and are still living there yourself, so you aren’t able to show an income from it. You also don’t have a rental agreement or lease for the property in favor of a third party to show a lender. That’s your current dilemma, IMHO, and the only way you can fix it is by vacating it and turning it into a rental.
There is an “abyss” between a “wishful” rental property and a “seasoned, proven” rental property.
March 12, 2011 at 6:35 AM #676295sdrealtor
ParticipantBrian and BG,
I never said it was for everyone, I asked how he would know without living it. He just said experience is everything and that is a STUNNING inconcistency. Living vicariously is not living it. I am the youngest in my generation and was never around small children growing up (I was the samll children). I always thought I would never marry or have kids and lived a pretty crazy life until my late 20’s. When I finally had a child I had no idea what to do with him and it took me close to a year to really start getting it. Nothing has been the same since. My life became fuller and richer than when I traveled extensively, lived in the biggest cities and partied with rockstars. The best part of it all is now I get to travel with my kids and see it through their eyes which is an entirely different world. Not saying its for everyone but how would you know if you never experienced something?March 12, 2011 at 6:35 AM #676353ParticipantBrian and BG,
I never said it was for everyone, I asked how he would know without living it. He just said experience is everything and that is a STUNNING inconcistency. Living vicariously is not living it. I am the youngest in my generation and was never around small children growing up (I was the samll children). I always thought I would never marry or have kids and lived a pretty crazy life until my late 20’s. When I finally had a child I had no idea what to do with him and it took me close to a year to really start getting it. Nothing has been the same since. My life became fuller and richer than when I traveled extensively, lived in the biggest cities and partied with rockstars. The best part of it all is now I get to travel with my kids and see it through their eyes which is an entirely different world. Not saying its for everyone but how would you know if you never experienced something?March 12, 2011 at 6:35 AM #676963ParticipantBrian and BG,
I never said it was for everyone, I asked how he would know without living it. He just said experience is everything and that is a STUNNING inconcistency. Living vicariously is not living it. I am the youngest in my generation and was never around small children growing up (I was the samll children). I always thought I would never marry or have kids and lived a pretty crazy life until my late 20’s. When I finally had a child I had no idea what to do with him and it took me close to a year to really start getting it. Nothing has been the same since. My life became fuller and richer than when I traveled extensively, lived in the biggest cities and partied with rockstars. The best part of it all is now I get to travel with my kids and see it through their eyes which is an entirely different world. Not saying its for everyone but how would you know if you never experienced something?March 12, 2011 at 6:35 AM #677098ParticipantBrian and BG,
I never said it was for everyone, I asked how he would know without living it. He just said experience is everything and that is a STUNNING inconcistency. Living vicariously is not living it. I am the youngest in my generation and was never around small children growing up (I was the samll children). I always thought I would never marry or have kids and lived a pretty crazy life until my late 20’s. When I finally had a child I had no idea what to do with him and it took me close to a year to really start getting it. Nothing has been the same since. My life became fuller and richer than when I traveled extensively, lived in the biggest cities and partied with rockstars. The best part of it all is now I get to travel with my kids and see it through their eyes which is an entirely different world. Not saying its for everyone but how would you know if you never experienced something? -
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