All Forum Posts by: Amir Saeed

Just curious. Are you looking for rental or you were going to flip the property.

Hello

I have read various articles on avoiding PMI by paying 20% down or getting a second mortgage bascially somehow bringing the LTV below 80%.

I have a few questions. I am looking to invest in a Condo $125K. This is strictly for investment purposes basically renting it out. I already own a house (Paying mortgage). Taking this as an example if I put down around 25K I should be able to avoid the PMI. Thinking strictly from investment purposes is it possible to put down less maybe like 10% and do like 80/10/10. I know if someone wants to live in the property or its a first time buy its doable, but in the case of investment is it doable also.

Second on average what is a closing cost on a property for $125K (I know it depends on the area or loan company) but is there a rough relation "%" between the loan value and the closing cost. Any tips would be nice...Thanks

I am looking for some foreclosure/per-foreclosure properties to invest in. I would like to get information on these types of properties. Can someone please suggest any websites that have information regarding foreclosure properties. Any websites or Tips would be nice...Thanks

Thanks Kyle.. I was just thinking maybe I can buy the property on my Wife's name, meaning that she can say that she wants to buy the property. Basically the property would be her first house. The only issue is that she is a stay home mom but she does have good credit. I can be the co-signer, and then we can go with the 5% or little +-. If this works would the bank still look at me (the co-signer) as someone who owns a house and is co-signing. Do you think this can work. Please share your thoughts...Thanks.

I am new to Real Estate Investment. I am looking at a possible deal. Purchase a property and use it for a rental (positive cash flow). I have a property in sight, and the numbers are working pretty good. The only issue is that I already own a house and to get the financing for the second is hard. From what I have seen so far there are three categories primary, second home( Far away, resort, beach....etc) or the last option which is investment.

I was looking to put around 5% down for the down payment but looks like I am leaning towards the third option which is investment which requires 20-25% down. Is there any way I could make my deal a second house and not go with investment option. I am sure its doable, but somehow I have to make the property appear not as an investment. Can anyone suggest any tips...Thanks

Thank you guys. Great suggestions..

I am newbie to Real Estate. I would like to get some guidance please. I have some amount sitting in IRA that I would like to use to invest in Real Estate (rental/buy). I am interested in a deal where I would like to buy the property and rent it, not just flip it right away maybe later when the housing market picks up.

Can I use my IRA account to purchase the property for rental. What would be the best possible option to avoid heavy taxes or penalties. I already do own a house. Any tips would be nice.

Thanks