All Forum Posts by: Brendan O'Donoghue

Hey guys! So I've been doing a lot of research on FHA loans as I'm looking to house hack. From what I understand, the rules for being able to use the FHA loan is:

must be owner occupied, 

must live in the house for at least 1 year, 

Mortgage Insurance Premium required,

Must have 1 year landlord experience in order to apply for another FHA Loan?

Is my understanding correct for these requirements? (Specifically the last point) 

I lived below my means for just over a year, saved as much as I could, worked as much as I could to have enough for a 20% down payment on my property. My next property will be using a partner / private money lender for a much larger scaled multi family property and house hack using an FHA loan.

Oh! And listened to and read as many BP books, podcasts, and forums as I could. 

@Mike Cumbie - seeing as you’re in NY, do you know if it can or has to be an interest bearing account?  

@Basit Siddiqi

Thank you for the tips. I’ve found some that meet in the area every couple weeks and looking to attend to connect and network

Hey guys! I am looking to begin my journey in REI in the Yonkers, NY area. I've been lurking in the forums for a while now absorbing and soaking up as much as I can. I am looking to get into Buy and Hold MFR using BRRRR and house hacking. BUT, Before I jump into anything, I want to have most or all of my team in place. I know some of these questions have been asked in the past, but I can't figure out how to search the BP forums for Yonkers, NY specific posts as it's such a niche

My fellow Yonkers investors investors, who in particular would you recommend for the following:

- Real Estate Agents?

- Brokers?

- Banks/Bankers?

- Property managers?

- Attorney?

- CPA?

- thankfully I am a NYC GC so the construction and inspecting aspect is covered

@Ron Joseph awesome thanks! I’ll be sure to look it up 

Hey guys! I'm new to REI, BP, and the Yonkers, NY area. I was wondering if anyone knows of any local meet ups or REIA in the area? Looking forward to meet, mingle, and get to know other investors, and people alike!

@Brandon L. thanks a lot for those awesome links! I’ll be sure to read them over! There’s so much to take in just gotta take it step by step

@Andrew Syrios thanks!! Already getting the best out of the calculator running practice and test numbers for when the time comes for the next deal! 

@Basit Siddiqi

Luckily being around construction my entire life, my specialty being electrical gives me an advantage for work and pricing, but I am also well versed in all construction trades! 

As for your confusion with my work and commute purposes, yes for now it is my personal residence. I recently moved down to Yonkers to be closer to work, as I was living up in Somers, about 45 min north of Yonkers. I plan on renting it out shortly after the required 2 years of residency required by the board. 

Look forward to connecting with everyone and getting different points of view!