All Forum Posts by: Alex Carestia

Thanks @Paul De Luca! @Caleb Brown This would be for an initial house hacking opportunity so I'd assume <20% for a primary/residential mortgage would be attainable (although assuming the additional PMI). I'm trying to find the sweet spot between the lowest down payment (higher mortgage/longer PMI) and higher down payment resulting in less time paying PMI.

Is it ever a good idea to put less than 20% down if you have excellent credit and just enough funds to do so? I know mortgage payments would be a bit higher and MIP would be added, but if I put 10% down and invested the other 10% in an index fund would that be better or worse than putting the whole 20% down?

Thanks!

Alex

Hey everyone! When in the buying process is the last moment you can back out of a sale as the buyer? Am I allowed to prepare a purchase and sale agreement and then move on to due diligence and add a clause (even if its bogus) that I can choose not to continue with the purchase? Please let me know. Thank you!

Thanks @Logan Allec for the awesome spreadsheet!

@Lisa Weiner - I'm considering starting somewhere in Essex County

@Kunal Mishra I'll be sure to do lots of homework on FHA's before diving in, thanks for the input!

Hello Everyone!

I recently graduated from Montclair State University as a Business major, and have to decided on real estate as my vehicle for accumulating passive income. The thought of seeing an actual physical property as a form of investment rather than dumping money into stocks is very exciting to me. I'm still living with my parents at the moment so my interest currently lies in renting out small multifamily properties and using an FHA loan to both move into a property, and rent out its other units. I'd be very grateful for any advice or tips from other NJ investors. Please don't hesitate to contact me! :)