Updated about 3 years ago on . Most recent reply
Taking The Next Step
Hi all,
I currently closed on my first multi-family rental in May of 2022 in New Bedford Mass, and have been doing a house hack ever since. I bought the property in decent condition, with two of the units updated. Since purchasing the property, I fenced in the backyard, installed washers and dryers, and completely renovated the third unit. I purchased the house with and FHA loan and am currently paying about $300 in mortgage insurance.
My goals for this year, is to purchase another property by the end of the year, I would love a 4 unit! I am hesitant to look any larger because that would require commercial funding and I have not navigated that option yet, nor have any connections in the commercial market. I'm really not afraid to get my hands dirty on a project, and enjoy self-managing the units (for now). In addition to getting another property, I also want figure out if there is a way to drop that $300 a month mortgage insurance bill on my current property, as this will help cashflow significantly.
Would love to connect with anyone that can help me take that next step, whether it be zoom or an in-person meet, coffee or lunch on me! I have listened to literally hundreds of episodes of the podcasts, and have read a good number of books as well, but am struggling to apply that knowledge to real life.