All Forum Posts by: Tara Myrick

Most of the 4 fams I look at are distressed and under $50k...here are a few that are turn key that are $80-120k...but that's cutting it waaaaay too close for me...does that matter?

Morning rick...give me some clarity please...she told me that I cannot receive any 1st time homebuyer grant/loan assistance from any programs here in missouri because they're only for singles and duplexes...not for triples and quads...that's when I asked about borrowing or gifting...thx for all of your help

Morning brandon...that's a whole different area I didn't think about...

When I asked my broker if I may get the $10K gifted or borrowed...she said yes...is there anything I need to know to present to my broker once I tell her that I have the down payment?

I could just hug you Brent lol...thank you...that's the route I'm thinking...just need to weigh all options...

Thanks again

gm brent....happy monday...I haven't chosen yet...I will crunch all of my numbers, using BP analysis...and factor in any expenses I hadn't thought of that you all are providing to me (I'm truly appreciative)...

I just don't feel comfortable asking a friend to lend me $ when I haven't figured out how to repay her...

So far, these 2 options I've are all that I've come up with...

1...promissory note to pay back over an alloted amount of time

2...ask her to become a partner (but I haven't figured out what the partnership will look like)

She's in California...I'm here in missouri...I will purchase here in missouri and be in the trenches with the rehab...

-Do I refi after my year of owner occupancy and repay in 1 lump sum?

-do I offer her rent payments?

This is what I'm stuck on...

I plan to choose a home this week...Thank you so much for the advice...I definitely agree with you BUT...

no one is answering the question I asked regarding my private lender who DOES have cash reserves...

I need assistance there 1st before I purchase...

Can someone please provide various options to pay back a private lender?

Lee...I think of that alot...

Hey jeff...I don't...that's why I must be meticulous and not make any emotional decisions.....can you provide some guidance/advice please?

hi michael,

4 family because I will not profit from a duplex as i must be an owner occupant.  and since 4 families are considered "single family" why not buy a quad

Hello everyone...I need advice...ok...here is my scenario

-Pre-approved for $140k (HUD 203K loan)

-1st time homebuyer

-looking at 4 families (LRA/MLS/Tax)

-looking at properties in St. Louis City (North City-$1.7B NGA project coming)

-was told by mortgage broker that i cannot receive any down payment/closing cost assistance because i am seeking a 4 family

-was told I need at least $10k down payment/fees/closing costs

-don't have $10K in cash

-want to ask a friend to loan me $10k; but don't know what I need to offer her in return for $10k loan

-what options are there to pay her back if she does loan me the $10K?

-what other other options are there for me to use OPM (no IRA/401K)?

everyone, i really want to jump out and get a property.  i know i don't know everything and I will make mistakes.  but, i cant keep sitting around be afraid to leap.  PLEASE ASSIST/GUIDE ME.  Thanks.  Tara