All Forum Posts by: Alyssa Kruger

Llewelyn A. These stories are fantastic thank you! So what brings me to Brooklyn, well I have always wanted to live in NY and experience city living since I grew up on the beach. I visit often and have always loved the personality of BK. That being said, I don't plan on living in NY my whole life, but want to find a way to househack so I can lower my living expenses while I'm there. Considering I will only have 25k I do not see buying a multi family as possible unless I live in a very undesirable area. Do you think a 2/1 is possible if I go with a conventional loan? I have found a few coops that I could afford in great areas however, I would want to ensure could sublease or do Airbnb (I know that tends to be a lot trickier). I am also considering buying a duplex in West Palm Beach because it would CF pretty well after the first year of using FHA. This would then cut my savings in half and I would have to rent while living in NY...

Hey everyone, I wish to move to NYC next year and want to live in Brooklyn. I currently live at home in FL and will have $25k by the time I wish to move. Using rocketmortgage as an estimate, I am able to purchase a property for $310,000. My original plan was to buy a 2/1 condo or apartment with an FHA, and rent out the other room however, I've learned that's almost impossible since most condos are coops and do not allow subleases. What other options do I have to house hack? Is it possible given the cash I will have on hand? Is a conventional loan doable in my case? Thanks for the help!

@Bob Razler I would love to hear about your experience, contacts would also be greatly appreciated. 

Cheers, 

Alyssa 

@Account Closed Thank you so much for that clarification!

@Andrew Postell Hi Andrew, great details! I have an interesting scenario, I want to purchase a duplex as my first REI and use an FHA. However, I plan on living my current job next july to work in a career that travels quite often (months on end). I was planning on purchasing by the end of this year, do you see this being an issue as to fulfill the requirement of living in the property for one year?

Hi @Braden Smith, I am want to purchase a duplex for my first property in West Palm Beach. As a young first time investor is a conventional with a min. of 5% down plausible for me? How do you recommend I go about finding a lender? 

I am considering going the FHA route, however am concerned about the "living in the unit for a year" requirement as I will be traveling a lot in the future with my career. Any thoughts...

@Ylande Blanc Hi Ylande! I am a thinking about buying my first rental property in the Fort Lauderdale area. Have you invested in that area or know anything about the market? 

Thanks :) 

Hey everyone, 

I am 23, relatively new to BP, and currently work in Corporate Finance. Excited to say I will be leaving my desk next summer to travel long term while working (yachtie, digital media, real estate). I will have about 30k in capital upon the time of my departure and want to know what the best strategy would be in terms of cash flow. How worried should I be about managing a property while out of town? Is Airbnb a possibility for this situation? Best financing option? Should I be thinking multiple properties? Multifamily?  

Currently I am living VERY frugally and will continue to do this while abroad in order to invest further in real estate to make this my long term career.   

Thank you!! Any advice is appreciated :) 

Pura vida

@Rachel Luoto This was GREAT input. This does lead to my next question.. financing so young. I am paying a very small student loan but will have more disposable income by the end of the year. Have you rented out a condo before? How much capital did you prepare to put down?

Thanks again for the help!

@Account Closed Thank you so much that was immensely helpful! Looks like a great way to get my foot in the door.