All Forum Posts by: Alison Wegenke

Thank you everyone for the feedback! Definitely given us a lot to think about!

Hello all,

Buying my first property ($205,000 duplex). Having a very hard time deciding whether to put 15% down on a conventional loan at 2.9% interest. OR putting 3.5% down on an FHA loan for 2.5% interest with an additional $136 of PMI every month.

I know the better value over time is certainly the conventional loan and will produce approximately $200 more cash flow every month as compared with the FHA. HOWEVER, putting 15% down will nearly wipe out my liquid cash reserves and I'll have nothing to pursue other properties with in the near future.

I'd go with the FHA and pursue a refinance (we'll be doing renovation on the property) but with mortgage rates on the rise, I'm concerned refinancing may not be beneficial in the future.

Any advice would be very much appreciated!

-Alison

Hello,

I was just wondering if anyone had a good resource they'd recommend for how to best utilize a partner? I have a highly trusted family friend who has expressed interest in partnering as we both get into real estate; however, we really don't know how this would work, what advantages (or disadvantages) there may be, or really anything about making this benefit us better than just going at it alone.

Any advice, articles, books, podcasts, or any references really would be greatly appreciated!

Thanks!

Alison

Hello all!

I'm going through the process of (potentially) purchasing my first rental and came across this unknown. What exactly am I looking for when it comes to comparing mortgage lenders and is it expected that I go through the entire approval process with every potential lender? I understand it's important to evaluate offers from multiple lenders before selecting one but apart from simply comparing interest rates and variable vs. fixed I'm not sure what makes one offer better than another.

Any advice would be greatly appreciated!

Thanks!
Alison