Comments on: How hard is it to refinance your home as a rental property? http://www.ramsey-rentals.com/how-hard-is-it-to-refinance-your-home-as-a-rental-property/ Mon, 03 May 2010 08:40:34 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: TheMom http://www.ramsey-rentals.com/how-hard-is-it-to-refinance-your-home-as-a-rental-property/comment-page-1/#comment-228 TheMom Sun, 31 Jan 2010 03:46:21 +0000 http://www.ramsey-rentals.com/how-hard-is-it-to-refinance-your-home-as-a-rental-property/#comment-228 I do this every few years. My parents have done it my entire life. I grew up in houses being "fixed up". You won't have a problem. My parents now live entirely off of rent, and live very well. This is not a problem. In CA you don't need any permits, I don't know where the other poster lives, but I have never heard of that. Some HOA disallow renters, so you need to check that if you are in one of those communities. The mortgage gets redone as an investment, which changes your taxes a bit. Use a tax professional to keep it straight and get all of your benefits. I do this each few years. My parents have done it my entire life. I grew up in houses being “fixed up”. You won’t have a problem. My parents now live entirely off of rent, and live very well.

This is not a problem. In CA you don’t need any permits, I don’t know where the other poster lives, but I have never heard of that.

Some HOA disallow renters, so you need to check that if you are in one of those communities.

The mortgage gets redone as an investment, which changes your taxes a bit. Use a tax professional to keep it straight and get all of your repayment.

]]> By: wizjp http://www.ramsey-rentals.com/how-hard-is-it-to-refinance-your-home-as-a-rental-property/comment-page-1/#comment-227 wizjp Sun, 31 Jan 2010 03:42:47 +0000 http://www.ramsey-rentals.com/how-hard-is-it-to-refinance-your-home-as-a-rental-property/#comment-227 Most lenders will just require an assignment of rents and leases if you have checked zoning and gotten the permits and the things needed to set up a rental property in your state Most lenders will just require an assignment of rents and leases if you have checked zoning and gotten the permits and the equipment needed to set up a leasing property in your disorder

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