All Forum Posts by: Anne T.

@Charlie MacPherson, yeah, I'll check tomorrow. I can't find anything that explicitly restricts owner-occupancy in any of the RD documents. But it does require sifting through a lot of regs. LOL

Easier for me to call... I'll let you know what I found out.

@Charlie MacPherson. Hey Charlie. You are correct--it used to be only for SF homes. You can now apply for loans for multi-family, but you still have to meet their requirements (for example, provide housing for elderly/disabled, etc.). You can find a brief overview on the RD website here: https://www.rd.usda.gov/programs-services/multi-family-housing-direct-loans. I don't know if they restrict owner-occupied, but I can give the local RD office a call and find out if anyone is interested.

First, LOL @Ned J.. I just had flashbacks to when I was a kid, watching the A-Team. Second, tamping down my maternal instincts and the fact that I struggled to get both my boys to finally go to college, let me say this @Shray Patel: a year and a half is nothing as far as time goes. It IS significant as far as the people you will meet while in college. Put aside the whole degree and fall-back plan and all that stuff. You are in college. You are in one of the top-ranked colleges. The people you are going to college with now are going to be the business owners and passive investors in ten years. CULTIVATE THOSE RELATIONSHIPS. Network with all the business and IT majors. Let them know what you are doing on the side. And keep in touch with them after you have all graduated. You literally have access multimillionaire investors. 

Stay in school. Finish your degree. Network. Learn more REI part time while you do it. And leverage your circumstances.

I agree with Shawn. The Seller's are likely the ones who will be paying the fee for the Buyer's agent, and the Seller's agent is just that -- representing the seller. They have no obligation (other than a moral one) to work on your behalf. I would strongly recommend using Tony's referral if Mr. Morgan is in the same area as the property you want to purchase. Also, when you are looking for an Agent, make sure you get one who has personal experience with investing. Mr. Morgan will likely be able to fill in any gaps in your knowledge about local investment properties since he is an investor himself. Most real estate agents are not also investors and they have no experience managing properties.

Hi Richard. If your dad isn't married to living in the Manchester area, he could look in the surrounding towns (for example, Goffstown, New Boston, or Weare) that qualify for a USDA Rural Development loan instead. That may be easier for him to get into since they are 100% financing. It depends on his income and credit rating, but if he qualifies for an FHA loan, he would likely qualify for a USDA Rural Development loan. The paperwork is a little cumbersome, but you can purchase multi-family units with it. I'm happy to answer any questions you may have about the process.