All Forum Posts by: Aaron Cayabyab

Thank you all very much for your feedback and help. I tried to talk to my lender and explaining to him about it but I don't think he has done a quad before. So thank you @Ray Ebert for that I will be looking for a new lender who is familiar with that type of loan. @Rod Khlief thank you for the info. I will be looking for a new lender. I love you podcast! Keep up the great work! Very inspiring! @Stephanie Potter thank you for the break down. That helps a lot in trying to determine if this will be a good fit. @Jose Garcia so the lender was saying he need to do 75% income of 3/4 of the property to be on the safe side. I thought it was just 75% of the whole property and I was even informed him I would be comfortable with paying the full amount of $1100 for the last u it just to get into the property. Looking for a new lender now so we'll see what happens there. Thank you all!

Hey guys, just wanted to get some feedback from you folks. Im currently in the process of getting prequalified. I'm prequalified for a single family but the lender and realtor is saying for now I am not qualified for a multi. Any reasoning to that? I meet all the requirements for an fha loan. I am out here in Hawaii and found a 4 unit property for $1,250,000. 2 two story duplexes on one lot. 1st house Upstairs unit - 3 bed 1 bath $2500 rent Downstairs - 3 bed 1 bath $2500 2nd house Upstairs 2 bed 1 bath $2000 rent Downstairs 1 bed 1 bath $1100 I plan on occupying the 1 bed unit. Are there any "fha" calculators I can do on my own to find out if I could qualify for certain properties? Any help is appreciated. Thank You!

Isi Nau sounds good will contact you soon!

Lane Kawaoka Isi Nau based on your experiences, would you advise a new investor to invest on Oahu? I'm looking into house hacking a four plex in town. Mahalo in advance!

Hi there, I'm fairly new and also trying to get a four plex using a FHA loan. Still new but my understanding is that there are loan limitations. For example, here in Hawaii the maximum in a 4 plex would not exceed $1.4 mil. I would suggest doing that fha loan for yourself and partner with your parents in getting another property with their money. Use your sweat equity in pet wrong with them. I hope it helps, but like I said I'm new at this so this is from all the information I have collected.

Hi BP Community,

Ive been looking into purchasing a 4 unit using the FHA loan. Before getting prequalified, would it better my chances to pay my credit card/ loans down? or does that even matter. I wanted to jump into this but wanted to get some input on this. I could pay off my bills with some cash that I have or would you use that cash towards the purchase.

I would still have enough to pay my 3.5% after paying off my loan/ credit cards.

Thank you in advance!

Aloha,

Aaron

Greg Doyle hey Greg, that's awesome. I'm planning on going through the same route as you with a quad-plex using the FHA 3.5% down. How did you get pre-approved? Did you go to your local bank? Thanks in advance and best of luck to you on your search!

John Leavelle Ned Carey thank you, that is very informative. So does the BRRR method only apply to SFH?

Good Job Aristone Louxz ! This is really super inspiring to read! I'm about to jump in using the same method. Awesome!

Seth Williams thank you for the feedback. It is very helpful!