All Forum Posts by: Chris R.

Thanks again Jon. I will need to get creative if I want to get started in 3-4 plex buildings then. I have the credit, the income to cover (one building) and a reserve but it would take me two years to save the down payment without using reserves for it.

Thanks Jon! I'll definitely need to find a lender that doesn't require that much down.

Hello!

I was recently advised that purchasing a 4 unit apartment in Jefferson County KY requires "special" financing and a 30% down payment. I have been searching to find KY's definition of a multi-family residential but can not find it. I was doing research under the impression that 4 units or less would be a MFR and I could get a regular fannie mae/mac mortgage on it.

Please point me in the right direction!

Thanks

Hey all,

I'm not certain that this fits in this forum but I could not decide where else to post it. If this is the incorrect sub-forum please move it with my apologies.

Obviously I'm new to the forums and I'm new to real estate investing period. I've done lot's of reading and am hesitant to just jump in without some sort of mentor/coach that can help me understand how much I should budget for launching the business and help me narrow down an area of focus that is good for my area. There are a several people on this forum with links in their signature that lead to sites where coaching or mentoring is offered. I've followed these people and their posts, and feel that they all have great knowledge, but I can not find any reviews from actual students.

Can we use this post as a sounding board for reviews of coaches/mentors that are active on this site?

Thanks for any input.

Chris

Hello,

I see a lot of advice pointing learners to join their local reia. I checked nationalreia.com and, as far as I can tell, there is not one that meets in Louisville, KY. Does anyone know of another association or club in this area?

Thanks!

Thanks for the welcome Ted. I've been reading Short Sale and REO but I also need to read a lot on renting since I'll become a landlord in the next few months. I'll learn a little about everything before deciding what to learn a lot about.

Hello all,

My name is Chris and I am in Louisville, KY. I am a web developer by day and very much want to get started in real estate. I plan to get my feet wet by finding a short sale or foreclosure to use as a personal residence, and then renting out the house we're in now.

As of now, my goal is to accumulate rentals but my wife and I together would love to do rehabs (our current house is one) as well.

This forum is THE BEST real estate investing information I have found anywhere. Unfortunately, I have been reading for a couple weeks before discovering this gem.

For now I'm going to soak up as much as I can so that I can successfully purchase an REO or short sale sometime over the next couple months.

Thanks for the forum and all the great information!

Chris