All Forum Posts by: Billy Anderson

@Paul De Luca yeah your right.

@Jay Thomas yeah that's my point. It's gonna take way too long.

@Paul De Luca I almost did speak to one but they needed to run my credit and it's already bad and if they checked it it would hurt it more, so I chose not to do it.

I don't expect or need cash flow right now, I just need a place to live and learn to be a landlord. What's hard for me to understand is if my monthly mortgage would be $2,000 + other expenses and rent is only $700 + electric, only one side would have a renter in it, I would have to pay the rest, it doesn't make it worth it considering I don't even have $700 for rent lol 😂

@Jay Thomas I'm in Chicago land. With an fha loan 3.5% down payment I would only be able to afford something $150,000 or less. I have yet to find anything that isn't broken down needs rehab and isn't for subsidized living with cheap rent.

So I'm not understanding how I can do an fha loan on a duplex and live in one unit. If I did that wouldn't I need to have my renter for the other unit pay 2x the rent and 2x their utilities? If I'm buying that duplex I'm not wanting to pay my own rent right? So wouldn't I have to make the other unit pay my share to So the mortgage can be paid?