All Forum Posts by: Andrew McIntyre

@Andrew Postell Great advice thank you!

@Nicholas Covington Thank you! and yes Iv'e done a fair amount of research into the FHA loan. my first objective is to get my credit score up so i will be able to qualify for the 3.5% down rather than the 10%

Here in the next year or so when I am out of school I plan on house hacking with an FHA loan and was wondering if there was anything I am missing as far as steps go onto purchasing and closing. I may just be overthinking this.

Any advice/tips/tricks would be greatly appreciated!!

Here's what I have so far:

1. Build up credit score preferably 580 or higher.
2. https://www.fha.com/fha_loan_requirements do I qualify?
3. Research the housing market, contact a trusted real estate agent.
4. After locating a property use the 4-square method (Thanks Brandon).
5. Make an offer.
6. Have the property inspected
7. Close sale

Here in the next year or so when I am out of school I plan on house hacking with an FHA loan and was wondering if there was anything I am missing as far as steps go onto purchasing and closing. I may just be overthinking this.

Any advice/tips/tricks would be greatly appreciated!!

Here's what I have so far: 

1. Build up credit score preferably 580 or higher.
2. https://www.fha.com/fha_loan_requirements do I qualify?
3. Research the housing market, contact a trusted real estate agent.
4. After locating a property use the 4-square method (Thanks Brandon).
5. Make an offer.
6. Have the property inspected
7. Close sale

@Andrew Johnson Thank you so much! I eventually plan to invest full time hopefully within the next 10 years and was just curious as to what water would be warmer when I get my feet wet. I've also been looking into house hacking a 4 unit with an FHA loan (young and need to work on the ole credit score :/ ).

@Bill F thank you!

Let's say I have 50k. Would the cash on cash return be the same if I invested with an REIT route compared to the 50k being a 20% down on a multifamily buy and hold using a property manager?

Let's say I have 50k. Would the cash on cash return be the same if I invested with a REIT compared to the 50k being a 20% down on a multifamily buy and hold using a property manager?

@Ray Harrell I appreciate your feedback and advice! defiantly a lot to think about!

@Deanna McCormick Thank you for your advice! unfortunately all of my family is in Colorado and Wyoming. I've been monitoring the jobs list for the past three months and never have i seen a position open up in Colorado, and if it did i would imagine it would be filled by an employee with higher seniority. but i will defiantly look and see if Amtrak has any relocation experts. Thanks again  Deanna!

@Ray Harrell A couple questions come to mind at the moment Ray and thank you for taking the time out of your day to help me out!. One, what is the average rent for a one bedroom or perhaps a studio near the Amtrak station? Two, lets say i cannot find a place to rent nearby the station, does the public transportation move pretty smoothly there? My vehicle is in Wyoming and I have a feeling ill be without a vehicle for a few months before I can afford to have it shipped that far. I know I'm probably over thinking and over stressing all of this :)