All Forum Posts by: Christopher Ball

@Steven Hershey check your 401k loan options. You can borrow against it, and pay yourself back. Also if it's your first home, you can borrow x amount. I believe you can skip the penalty, however you would have to check into that. It was 15 years ago when I did it and don't remember all the details.

Thank you, this is very helpful. 

The ones I read said they could be up to 4 units. The intent to live still needs to apply like fha

@Eric Jiwanmall

$159,900

4 bd3 ba2,625 sqft

1009 N Madison St, Wilmington, DE 19801

For saleZestimate®: $157,170

@Eric Jiwanmall if you don't mind the commute then check out Reading, Pa or Wilmington, DE. The taxes (property) in Wilmington have gone up due the revitalization project. However they are current with most north eastern taxes. Delaware has very low taxes and cost of living. Also check Glasglow, Bear, Newark, and Christiana.

@Juan Abreu in my area this is how my refinance lender explained to me.

1.) Fulfill your year obligations.

2.) Refinance to conventional mortgage or sell and use 1031.

3.) Get a rental agreement for residents to off set DTI.

4.) Find property, some cases you need a reason, i.e. relocating for work, out grew current home, going smaller from multi family to single family, moving to a better school district.

Again this is how it was explained to me by my mortgage broker in Connecticut. It could be different in other locations or I was misinformed. I believe your max would be 10 in 10 years. You can only have one at a time.

Looking into a 20 unit mixed use property. What is the best loan, for first time commercial? Fannie Mae, Freddie mac, or Hud?

@Tamara Taylor whom did you use for a contractor?

@Dylan Thomas please read Chris Voss "Never split the difference. ". Also listen to Jay Scott and his wife, about negotiating. I forget the podcast number. It's in the 300's the one were they announced their podcast show. A lot of helpful information on your question

@Justin Rank Fitchburg savings bank,Workers credit union, Athol savings bank, Home town bank, and there is a credit union in Gardner next to planet Fitness.