All Forum Posts by: Anthony Richards

My friend owns about 7 properties in Rochester, NY that he purchased through a variety of personal loans.

To my understanding, he can’t refinance his properties (or can he?) because he doesn’t have a conventional loan on any of them.

What ways would he be able to get a mortgage out on all his properties to bring down his interest rate and wrapping it all into one loan?

FYI: He owes under $100,000 for all 7 properties combined.

Looking forward to hearing from you guys!

@Christopher Phillips I appreciate your input and clarification, Christopher.

@Scott Wolf Thank you so much for responding, Scott. 

My in laws will in fact be paying rent and I wasn't completely sure the exact area of LI to look into. Essentially, not too far out as we don't have a car and we WILL need to travel to the City daily.

@Tim Puffer @G. Brian Davis Thank you so much for your input, gentlemen. I will be looking into the FHA loan as well as continue to read around for options.

Once again, thank you so much!

Greetings Bigger Pockets Family! My name is Anthony Richards from New York City and I am striving to become a real estate investor. For my first forum post I had a few questions about financing/finding my FIRST primary residence. The main things I was trying to figure out were the best ways to do it as a first time home owner, what to look/look out for and what type of programs/loans are out there for me. I am looking for a 3 family house specifically in the Long Island area of New York City as the prices are lower but we still have access to the city. The plan was to have my in laws in the top portion, me and my wife would be in the middle and the bottom portion we would fill with a tenant. I am not the best writer so if clarification is needed, I will go further in depth. Thank You to everyone reading/responding to this and I am looking forwards to speaking with all of you! Best Regards, Anthony R.