All Forum Posts by: Cody Brinkman

Hey Kyle,

I've always gone through Farm Bureau insurance. I currently have all my units on cash value as well. I check the rates once every 6 months and it seems they are tough to beat, at least here in Lincoln. Call up Brock Roth off of 31st and O street and tell him I sent ya.

Regards,

Cody Brinkman

Welcome to the community! I've read lots of books and I can say that this website and all the information that is offered here pretty much makes them all obsolete. A great low money down way to get your feet wet would be to use a 3.5 percent down FHA loan to acquire a small Multi-Family property (up to 4 units last I checked). The kicker being that you have to live in the property for 1 year. Great way to learn the ins and outs of Landlording. Baptism by fire so to speak.

Good Luck!

i may have let my excitement get the best of me. Thanks for the advice Brandon!

Hello BP,

I am have been made aware of a potentially life changing deal and I need some specific tax info. A gentleman was introduced to me through a family member that has a large portfolio of apartment buildings has decided to dissolve his trust because his family doesn't want to deal with the tax implications of either taking possession or selling the properties on his passing. I proposed that he turn his portfolio into notes that I pay on (terms still in negotiation) and pass the notes onto his children so that they could receive monthly payments on a mortgage instead of a lump sum. I don't have a lot of specifics as far as the numbers go and much due diligence is needed to determine if this is something I want to further pursue, but as a negotiation tactic what would the tax implications be for his children upon his passing for taking possession of his performing notes?

Thanks,

Cody Brinkman

Thanks for all the input guys. Sounds like some more research is needed. I am about 8 months out from being able to pull the trigger so I've got some time.

Cheers!

Thanks for the input Tyron!

Hi all,

I've been reading on the posts here in regards to new contruction and financing and haven't been able to answer my question fully. 

My plan is to build a 4 row condo complex with the intention to live in it for a year to fulfil the FHA occupancy requirements. My question is whether or not you can get a standard construction loan then refi to an FHA loan or if the FHA has a program for new construction multi family? Also was curious if I could self GC?

Thanks everybody,

Cody Brinkman

Hi all,

I've been reading on the posts here in regards to new contruction and financing and haven't been able to answer my question fully. 

My plan is to build a 4 row condo complex with the intention to live in it for a year to fulfil the FHA occupancy requirements. My question is whether or not you can get a standard construction loan then refi to an FHA loan or if the FHA has a program for new construction multi family? Also was curious if I could self GC?

Thanks everybody,

Cody Brinkman

I definitely don't live in Bel Air... Yet. Thanks Albert!

Hello BP.

I've been exploring some lower cost options for property acquisition and the idea of an FHA loan came up. I am aware or the occupancy constraint and I'm ok with that but what I haven't been able to find an answer to is whether or not I'd qualify. I already have 3 conventional loans ( 2 portfolio 1 Fannie Freddie ) but they are all investment purpose properties and I don't actually have a primary residence. Could I convince the FHA to finance a quad plex for me?

Regards, 

Cody Brinkman