House Hacking Question - Signing Leases in Advance of Closing
Quick question for the single family house hackers. I currently am living in a condo that I purchased as a future investment property. I bought it as an owner occupant with less than 20% down. I've done my twelve months of residence and am now ready to exit purgatory and buy my next investment condo. My issue is that I am not 100% that I'd qualify for the next condo without having a lease in place for my current condo. Here's the question. If I were to sign a lease contingent upon my closing on a new home, will residential lenders count that lease as income to me and allow me to purchase the next property with less than 20% down? Or will they likely see my game and view the next purchase as an investment?
Hi valueadhd, whoops, looks like nobody chimed in here.... maybe one of these discussions below is relevant:
More suggestions...
I hope those threads give you a bit more insight.
best to ask this question on BiggerPockets forum
Deleted
EDIT: I accidentally replied to you and then deleted it and reposted to the OP
Didn't mean to come off as sarcastic. Lol at the MS
Explain.
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