All Forum Posts by: Andrew Martin

Hi everybody I am originally from northwest Florida but I am currently in Orlando, I will be moving back to NWFL in about a month and I'm curious to how the market is up there? Are there any investors in Okaloosa county that can give me some insight? I have been looking online but I can't really seem to find any real estate for sale other than market value. Thanks

Hey everybody I am wondering about hard loans and if it might be a good route for me to take for my first investment. I am actually interested in house hacking for my first investment and I'm wondering if anyone has used hard money loans to acquire capital for a down payment and rehab costs, then refinanced to pay the hard money loan off. Is this a profitable route, of not then why; if so what all is involved. Thanks everyone this is an awesome community and I feel blessed to be a part of it!

Also I would like to add that at my calculations a mortgage payment would not only be lower than what I would pay to rent an apartment here in Orlando but also in theory I wouldn't even have to pay that because of my tenant in the other unit; so would my income from my job(about 450/week) be enough to cover any expenses that I might incur?

Thank you all for your replies. I don't really have a lot of income as of right now, although I am willing and am currently practicing not spending any money on anything that isn't absolutely necessary, it will probably take me some time to save up a substantial amount. How much you recommend having set aside besides from the down payment? Say I plan on buying a duplex and rent out one half as well as maybe a bedroom in the one I occupy, now i have two units, what kind of reserves do I need at all times and for what purpose? Thank you all so much

Hey everybody this is my first time posting and I will try not to take up too much space. So to make a long story short I have recently become obsessed with real estate investing and learning everything I can to get my foot in the door. So I think I have decided on house hacking to not only live rent free but learn the ins and outs of being a landlord. Problem one is I only have about 2500 saved up so I'm thinking about an FHA loan for the 3.5%. first does anyone have any bad experiences with FHA loans; and how would I go about getting funds for rehab costs if needed? Also what is involved with cash out refinancing? I want to expand my rental portfolio as quickly as possible, how long do I have to wait to do the cash out? Any help would be greatly appreciated!