All Forum Posts by: Teron S.

Understood. Thank you @Jaysen Medhurst. I will figure out how to acquire that information. Thanks again!

Hello all, if a city has an 65% own rate to 35% rent rate should I not buy in that city if I’m looking to buy and hold? I only ask because some of the 65% could be other investors.

Hello BP,

I'm looking to buy a multi-family home within the next 6-8 months. My question is after living in the home for a year or more, if I receive a job offer in a different state, decide to have less unit because of the noise, or just want to buy a bigger/smaller home am I allowed to move and take another loan out(FHA and or VA)? Would I have to sell the home first or could I just rent it out? Life happens and I don't want to be stuck in a neighborhood for 30 years if I have different opportunity pops up elsewhere as in a job or if I want to down size or up-size to a new home.

Any help would be appreciated. Also I would love to hear from people who have done this as well. 

Thank you for all the advice everyone this is really helpful.

I hello bp nation,

Can you give me advice on how to gain multiple property (2or more)in 1 year to buy and hold with let's say 10k of your own money to spend?

Hello BP nation,

I finally have my first house under contract due to close in just 4weeks and I'm really excited. My question is since I will be owner occupying the 3 unit home while renting the other 2 unit, I want to open a business account as a sole proprietor. I Plan on also getting a business credit card under my trust name i create .I know it's hard to get business credit when first starting but if i use a tradeline shouldn't that speed up the process?  

Thank you again for your time! 

 Hi Phil,

Welcome to bp. Congrats on deciding to invest into real estate especially at a young age. From what all the old people have been telling me starting young is perfect. As far as finding multi family home you defiantly can find it on the mls using a broker or realtor. As far as 1031 exchange goes i'm not to sure on that, just search it on the search bar and you will find plenty of info on it.

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Only you know what to offer based on the numbers you looked up. Also think of it as your in control because you have your max number in your head (based on your budget/ what kind of cashflow/gains you want)and if it doesn't fit what your trying to accomplish leave it and find something better. You negotiate with the seller based on figuring out his lowest selling price and why he want to sell. All of this is  Based on my limited knowledge I've been thru a lot of the negotiation phases but now I'm actually closing next month!

I understand what your saying on doing to much at once but The way this is going I won't be able to gain multiple property going the way I'm going now. I just want to know how can I gain multiple property and a quicker time span. I know there is a way but I'm just looking for some direction that are available so I can be ready when it's time to purchase next year

So I should put my home in a llc even though it's a fha loan put the business credit card(what ever I can get) under my name, and build credit. But how can I get a business credit card with no business and only my owner occupied 3 unit?