All Forum Posts by: Brandon Rush

That's where you need to dig a bit deeper to see what works best for your situation, I would not be able to recommend one or the other. The benefit of FHA is the low down payment but you will have PMI which adds .085% of your total balance to your payments annually.

Going conventional, 20%-25%, will not have any pmi but will require significant funds for the down payment. 

If this is your first time ever purchasing a property you may be able to get the best of both worlds with a low down payment (5%-10%) conventional loan. You will have PMI but it will most likely expire after you reach 78%-80% loan to value.

You may want to speak with a lender or mortgage broker in your area to give you guidance on what works best for your situation.  

Welcome @David Alvarez,

In today's market you are most likely going FHA which is typically 3.5%-10% down payment based on credit score. Or, conventional with 20% down. The FHA will require private mortgage insurance (PMI) while the conventional will not.

How much toput down will be up to you. As @Jaysen Medhurst said, take some time to do some research. Lots of information out there regarding this question.

Hey everyone. What are some processes you have for tracking who you are sending your mailing campaigns out to and regularly updating the status for each of them?

I have done a few mailing campaigns but trying to keep track of who I mailed to and how many times. I am also looking to document bad leads and sellers who ask me not to reach out to them anymore. I am working off of a Google sheet but it can get a bit crazy to manage when mailing a few hundred property owners.

Any suggestions? As always, thank you.

Currently working in New Milford, CT. Wife is currently in Norwalk, CT

Thanks for the advice, will definitely keep that option open.

Hello my friends, 

Looking for some advice for house hacking options. Yes I know there are similar post on BP, but I just feel like typing tonight.

 I currently live in Danbury, CT. My current house is prepped and ready to hit the market sale but I am looking for a spot to house hack first. The Danbury market is very hot and picking up a property here would off set my expenses but not significantly. On top of that, the numbers don't work for when I leave that for the next house hack. Basically Danbury is too damn expensive. Specifically, I am looking to find a 3-4 unit property. 

After long talks with the wife over the last few weeks, here are a few options we thought of:

1) Rent out out a room in our current home and stay put for a little longer. Unfortunately we have a single lane driveway and my neighborhood is not fond of people parking their cars on the street for long periods of time. We are thinking of digging out an additional parking spot for the roommate. 

2) Move to the nearest affordable town that offers 3-4 units. Most likely this would be Waterbury, somewhere along the valley or Bridgeport. This would take us further away from both of our jobs as we would both have a 1+ hour commute with traffic. But, if this is what we have to do, then we do it.

3) Move further out such as Bristol/New Britain, pickup a 3-4 unit and deal with the super long commute for a least a year, then see if we can get closer on the next house hack. If cash flow is really good, we could rent a room somewhere in Fairfield County which we could use during the weekdays to avoid the long commute. Ha, we even considered buying a small RV which we could drive into Fairfield County during the weekdays, sleep in it and return during the weekends or whenever needed.

No matter what we do, the goal is to house hack 3-4 units over the next several years and we are ready to get started. 

Anyone else have any creative house hack ideas or personal experiences they want to share???

Thanks in advance for your help!

@Ryan Kundrat

Never answered your question regarding manual cars! I love Honda’s as I have owned two Civic SI’s. Shifting is like butter. Owned a wrx and shifting was horrible. Would love the opportunity to drive a modern manual Porsche, I hear good things. Just give me a twisty road and a manual, it’s the best feeling.

Hey Ryan, thanks for reaching out. I am definitely down for a zoom coffee chat. I will message you to see your availability.

I sure did, good book. Thanks for checking out my post.