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Updated almost 3 years ago, 02/03/2022

User Stats

125
Posts
21
Votes
Orlando Goodon
21
Votes |
125
Posts

Where can I find a list of example deals for 3.5% down multi?

Orlando Goodon
Posted

About to make my first deal but I've never done one, so I don't even know what a good deal looks like. With 20% down, it's easier, but when you only have 3.5% down, I need to set lower expectations with a FHA loan deal, but I don't know what that looks like. Is losing $300/mo OK, considering limitations of such low downpayment? What exactly would a bad deal look like? I know it's relative but some example deals would help. Something that shows a few 3.5% down deals, with all the basic numbers.

I've heard things like $200/door is a target but not sure that applies to a 3.5% down deal. Also, Any house I buy, I'll have $3000+ in deposable income, so technically I don't need profit. Building equity alone is good. I'd LIKE profit as I need to build another down payment for next deal, but it's not needed.

I actually planned to pay $1800-$2000 additional mortgage payments for faster paydown. So basically I would live like a tenant. Paying what they pay or more. Plus keeping a $12-$15k reserve.

Been searing online but not seeing 3.5% deal examples.

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