All Forum Posts by: Bryan Gregory

@Nicholas L.

That’s good to keep in mind. Yeah I would plan on keeping it for a long time. Thanks!

@Will Barnard

Awesome! Thank you!

@Jonathan Greene

Great advice! Thank you!

Seeking advice!!!

My wife and I are both in school for the next 2-3 years or so and are looking to get our first property close to campus. Instead of paying rent and losing that money, we’d rather put it towards a mortgage of our own. We are considering one of the following options, but are open to other suggestions! Please let us know what you think!

1. FHA loan Duplex. Owner occupy one side and rent out the other. By far my favorite option, but will require the highest down payment and probably the highest mortgage payments.

2. FHA loan Townhome. The mortgage on this would be pretty affordable, it would be probably about as much as we would spend rent on living close to campus. It would just be trading off from paying rent to paying it towards a mortgage.

3. Flipping a house. Are you able to even flip a house using an FHA loan? Or is there a way for poor college kids to afford this? With this option we would flip a house and then use the money for a down payment on a duplex.

Another question:

As a rental property investor, would it be beneficial for me to get my real estate license? My internship would pay for it for me.

Which option would you choose? Or any other ideas?

@Meagan Martinez

I am definitely interested as well. Could you please message me with any updates on when and where the meetups would be?

Thanks!

Hello! My name is Bryan and I’m looking to get my first property. I am currently in school and I just got married this last summer. Right now my wife and I are living in her parents basement to save money on rent. Rent is around 1200 a month where I go to school. Instead of paying rent and moving out I want to buy a duplex near where I go to school. I’m leaning towards buying a duplex, living in one unit and renting out the other so that:

1. Living in the property I only need to put a 5% down (I am young and very poor so this would practically be my only option)

2. It will eventually generate more cash flow than a single family dwelling

3. More leverage than a single family dwelling

I guess my main question is how much $ would you guys recommend I keep as an emergency fund in order to cover the upkeep or vacancy of the property?

Any other suggestions or advice?

Thanks!