All Forum Posts by: Brittany Fife

It is in a high flood zone so yes there is a high premium. The taxes aren't too bad, $3000. I pay for water and sewer.

The rent is 725 and 800 for the other one. The tenant pays for heat and electric.

I was wondering what is a good price to look for when purchasing a multi unit. What should the average price per unit be? I am under contract to buy a duplex for 99k and was wondering if 50k per unit is pricey.

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I saw earlier in one of the forums that it was difficult to get an FHA loan when you own a single family and want to move into a multifamily. I didn't respond to the discussion so I am asking you now. In what ways is it difficult? They have made me write a lot of explanation letters. I didn't know if that was the difficult part. Would the loan be less likely to be approved with a 50% debt to income ratio? My credit score is good, 760. I haven't been denied yet but I'm just worried it won't go through. Any advice?

My plan is to move out of my single family home in need of renovations and I will live off the grid essentially. I will live in either a camper or tiny house and shower at my family's house. I will have a heat source and enough space to live in, about 400 square feet. I will use some of my equity line from my single family home to pay for the renovations. Once it is finished I can rent it for a good amount of cash flow. I was also wanting to buy a foreclosure or auction for cheap and work on that during my spare time. I have said this to a few of my friends and they think it is nuts. My loan will be paid for by the tenants and I will have extra money to work on the foreclosure. What do you think about all this?

The plan if I buy the duplex is to renovate it and rent it out. I can sell it but probably won't get what I want for it because it has lead in it and is not able to be a rental until the lead is gone. It is my primary residence so I didn't want to sell it because then I would have no where to go. How could I find private lenders?

I am waiting to see if I can get financed on a duplex. I own a single family home with a lead order on it. I'm lost as to where to go if this deal doesn't go through. I want to start investing and might need to find another way to get things rolling. Any advice?

Thank you all for such a warm welcome. I look forward to learning and excelling at investing. 

I am under contract with my first duplex. I will be getting an FHA loan and be living in one unit. I have a single family residence that I live in now and will be renting out as soon as I move into the duplex. I am learning a lot already and excited to get involved in real estate investing.