All Forum Posts by: Chad Jackson

For my next investment, I was going to try and purchase a preforeclosure. Is this hard to do? I'v heard alot of people will get cash offers, and that if I'm doing the purchase with a loan, to not even try. Just looking for any kind of advice that has to do with these.

     ,Thank you!!!

@Andrew Postell

My homes value is 320k and I currently owe 200k.

Im wanting to do a heloc loan to be able to purchase my next property. I just have a question about D-T-I.

I rent out 2 rooms, will a bank/loaner be able to put that down as income. My back end DTI will be 28% if they do.

Any tips or advice is greatly appreciated!!!

,Thanks

I am currently trying to figure out the best option to use for financing my next investment.

My home's value is currently 330k and I owe 205k on my current loan.

I am trying to get 20k to use toward my next purchase.

My current interest rate is 2.6% which makes me want to lean towards using a home equity loan, so that I could keep that rate.

   Any tips or advice is greatly appreciated, Thank you!!!

Good afternoon everyone,

  I currently house hack, which is working well, but I am wanting to continue my journey.

I am currently saving money for my next investment, but I have also thought about getting my real estate license.

I'm just not sure if its worth the cost to get it. I live in FL, and the market is pretty busy in my area, so I do think it would pay off.

I'm a firefighter, so I think I could manage to have enough time to be a realtor.

any advice or tips is greatly appreciated!!

THANKS

I currently do the same thing. I just post the rooms for rent on facebook. It doesnt take long at all to find tenants for me. It would also depend on the area you live in. I have them submit to me a background check, and also submit (4) references. I dont use a property manager, I dont really think one is needed in this situation.

hope this helps

Good afternoon,

I am kind of in the same boat. I purchased my home about 1year ago and im looking to purchase a rental property. If you have found (2) good deals, and know that 1 is going to be able to bring you income. I would say do it. Its all about timing. However I would only do it, if your 100% sure you will be able to rent out the rental property right after you purchase it.

I plan on moving into the next home i purchase. I'm just waiting because I have to live in the home I own right now for a year since I did an FHA loan.

What loan would I need to get for a low down payment?

I'm wanting to do 3-5%.

Thank You!!

6 months ago I purchased a home using an FHA loan. I am wanting to purchase an investment property in 6-8 months. I am probably going to do a conventional loan. I read that I will need to put 10% on the purchasing price to qualify for this loan, since it is my second house purchase. Is this true?

Also USDA loans do not qualify in the area.

ANY ADVICE, is greatly appreciated!!

THANK YOU!

I'm a firefighter/paramedic/driver-engineer full time, which I love, but real estate has always intrigued me.

It started when I kind of house-hacked, I did not own the property, but lived there for free and had some cash flow. I would say im more into single-family homes, and renting.

Anyways any info for a newbie, is greatly appreciated!

Thank you for your time.