All Forum Posts by: Andrew Galeano

@Salvatore Lentini tough to do so where I live. Jersey City. I feel like I’m always paying at the top of the market. All the houses I run numbers on wont cashflow unless I rent out the basement illegally

@Theresa Harris

Man the stock market is the worlds greatest ponzi scheme. Inflated markets stocks rising company production NOT. look at the charts. Thats an online casino.

@Luke Ski

Agreed. People don’t understand debt is the issue here. The Fed econic researchers and chairs are men who have algorithms to forsee the future. They have no life experience, never managed a payroll. This is where the country goes wrong. We have a debt crisis, we have an oil crisis, we have a share buy back crisis that incentivizes Corps to prop up stocks rather than invest in the future. Then we go and bail them oht for their poor investment strategies. Let the. Fail. Any major corp who decided to spend 90% of their profits on share buy backs should be allowed to fail such as the airline industry. Major crisis ahead that would gave happened regardless of corona. That just magnified and accelerated. In 2019 US was 90% consumer spending! We did not even have the ability to aupple millions of masks, MASKS that cost 10 cents! The only thing we should be spending trillions of stimulus dollars on is incentives for manufacturing things here and stop being a country of 90% consuming

@Joseph Cacciapaglia

The economy most definitely is not strong its inflated by the Fed. 1/3 of renters did not pay their rent, you can do a quick research on that it will take 30 seconds. We most definitely are headed down a recession.

Banks are tightening up their lending applications as Chase officially did today. This is because they are weary to lend out any debt. Investors who buy mortgage securities are iffy. The 2008 crash was awful and it was not helped we kicked the debt down the timeline. Corona virus only magnified and accelerated what economist were already seeing fundimentally wrong with U.S.

Im airing on the side of this being worse than 2008 economically, maybe not as much of a housing buble or forclosures but the issue in america is DEBT.

@Andrew Narsi

Exactly and I read about the Drea and they say its different then Gov backed mortgages. So are they excluded also orrr .. lol crazy times we are living in

@Wayne Brooks

Sorry if I jumped the gun Im not sure if that includes FHA or owner occupant programs. I can not find any information regarding that

@Andrew Narsi

Man thanks after posting that I wondered if I jumped the gun in my assumption. From what I read its still a little unclear - I dont see them saying it would effect first time home buyers it just says “any new customer”. I had people who work at Chase told me I was incorrect in assuming they mean 20% for first time homebuyers so if that is a mistake on my end I apologize

Wow Chase just announced Tuesday will start 20% down and 700 Fico score needed for first time home buyers!

@Jonathan Taylor i used an FHA to buy a 3 family house Dec 2018. In Dec 2019 I did an FHA streamline refinance. Does that reset my 1 year self-occupancy timetable ? Or If I find another multifamily deal, can I use an owner occupant loan to get into it since its been more than a year living in this current property..

@Andrew Malina

Agreed Andrew. Im in your situation as well. I live in Bushwick Brooklyn and I currently have a rental in Jersey City. However the cashflow there right now is sochard to find. Im also into looking at areas in Newark. And like you, am looking to connect with experts on the areas. I obviously dont want to have the nicest house in a warzone but I know there are area’s in Newark with good growth