All Forum Posts by: Ashley Teleki

@Jabbar Adesada and @Wayne Brooks Thank you!!

@Wayne Brooks so if it were a non-occupant cosigner who was a family member then could we qualify for 3.5% down?

In my area, people are still hosting private meetups, I wear my mask every time and adhere to the safety guidelines. I know this is not an option for everyone so luckily we have BP to network! I am a part of a Master Mind Group that was set up by BP and put me in a group with like-minded investors, we meet once a week over skype on Saturdays at 5EST. My group is only 3 people including myself, we only started meeting a few weeks ago and are still figuring out a good system. If you would like to join in on our meetings, you are more than welcome just PM me!

There is a zoom meeting for WNY out of state investors on February 6th hosted by @AnnieJohnson (who was on BP Rookie Podcast!). Even if you may not have considered investing in Western New York, it might be worth it just to network and make connections with other investors. The link to the zoom event is: https://www.biggerpockets.com/...

I've made tons of connections just from creating forum posts and having my keywords set up so I can comment on other people's posts and add new connections to my network.

Cheers!

I was told by a broker that a non-occupying cosigner does not qualify for the 3.5% down payment but instead has to put 25% down for FHA loan. I was told by another broker that it should be no problem, that they had never heard of such a rule and they even browsed the HUD website saying they couldn't find anything on the subject. However, the first broker said that after 2008, they came out with the Dodd Frank Act which changed regulations to the way banks give mortgages.

I searched the HUD website and cannot find it myself so if anyone has any information, please let me know!

Thanks!

Buffalo has reasonable prices for homes and many forecast that the city will be blooming within the next few years so now is the time to buy. 

You could reach out to @Matthew Irish-Jones (https://irishjonesrealty.com/) his company is basically a one-stop shop for out of state investors who want to invest in Buffalo. He's really great and is super active on BiggerPockets!

I think they still have that program for properties on the East Side, it's called Buffalo's Urban Homestead Program. I've read some articles about it and there's so many stipulations that go along with it like having to live there for at least three years.

 It's always helpful to see different ways that smaller spaces are utilized so definitely post them!

Go Bills!

Thanks for the input! Will definitely look into those leads

Hi Kristos! Welcome, or welcome back! Your story is really inspiring and really hones in the saying if you want something make it happen. House hacking a mobile home through owner financing and being able to pay it off in 3 years is awesome. I am currently living in Buffalo and trying to find the best creative finance options to purchase my first house hack this year. 

If there's any way you can post pictures of your progress of turning the top of your garage into a 1bed/1bath apartment, I would love to see how you go about doing so. I've looked into some properties in the area where creating another apartment above the garage would be a good option for extra income. Good luck on your goals for the year, not that you need it because clearly your determination has gotten you so far!

Hi, I'm looking for suggestions for an investor friendly accountant in Buffalo NY, who is willing to work with and drop some knowledge on a newbie investor.

@Enrique Kratz Hi! I highly recommend looking into Buffalo. I’m from Queens and moved up here for college about 4 years ago. Fairly priced (way better than nyc), great community, and definitely growing into the blooming, beautiful city it once was. Also really walkable. I didn’t have a car for my first semester and while the transit system here is not as efficient as the city, if you plan ahead you’ll be able to get to places outside the main part of Buffalo. Elmwood village has lots of local shops and a really great walk. The best way to describe rent here is to say that the price for a shoebox in Manhattan and most of Brooklyn is the same as a 2 bed, 1bath with parking. Plus it’s a 7 hr bus ride in case you ever want to visit the city.