All Forum Posts by: Alex P.

You can have one FHA loan, there are a few exceptions but not many.

You guys are making a lot of plans for not actually knowing if the power company came and turned it back on. You would listen to heresay from neighbors over verifying with the utility company and then start making claims to section 8 before you actually knew? She probably is tampering with it, but you can't just presume that. Verify with utilities then give them a notice to enter to look at the meter.

I think you need to figure out whether they have or haven't paid their bill. I don't believe that you can't check the status of it without your account number if you are the owner. I would be in the utility company asking who I needed to to get the info. 

You could check with your municipal/utilities and see what permits were drawn, if any. What kind of repairs were done that you are questioning if permits were drawn?

I like the foreclosed homes that are moldy, have drug needles in them, and the electrical ripped out through the sheetrock. The ones you have to sign something to get into them.

If it were me and I would be holding it indefinitely, I would do the 70% at 5 because the market is hot right now and it's hard to find deals so there's time to recoupe the 10%. It really depends on your goals though, if you can line up another property and you need the capital then you should do that 80% at 6. There's not really a right or wrong answer for the information you gave.

I think it would depend on how long you hold the property and what you were to do with the 10% delta proceeds. What's your plans with the place?

I'm biased but my votes for trade school. Same or more salary, half the school, lower tuition costs. Sure if you have a passion towards any of those fields you should do that but if you're looking to solely spring board your investing career, pick a trade.

Just out of curiosity, you mentioned your tenants are in charge of all maintenance. What kind of maintenance are you meaning?

5.375%, 30 year, 2 origination points. 20% down.