All Forum Posts by: Cody Buckingham

I’ve just ran across a piece of land in a great location. The owner is a older gentlemen who is already retired and is interested in doing 20% down seller financed. That being said would a bank allow me to use the full price of the land as a down payment on a construction loan?

Example

$300,000 for land.

$60,000 for down payment (seller financed).

Go to a bank and use $300,000 for down payment on construction loan.

@Bruce Lynn I don’t need the rents to cover the mortgage. Just need them to help out a bit. I’m currently in an apartment right now so anything that I can pay off to eventually own, gain renting experience and that will long term be a good investment is something I’m okay with.

@Bruce Lynn speaking as a someone new to house hacking and multi is why I ask that

@Bruce Lynn I would really rather a multi over renting bedrooms out. Is there a reason you ask?

Just moved to southern Maryland after remodeling a house in Washington. Trying to house hack but need an agent who can get me some options. Looking for a 2-4 unit so I can keep it under a VA or conventional.

Just sold my house I was remodeling. Looking to start house hacking in a 2-4 unit. Looking for a good realtor that can find me some good deals. Depending on the market, about one property every other year.

@Joel Lazar defiantly let me know what you find and even if you want to bounce ideas off each other.

@Jonathan Pavkov we’re looking to house hack the few years we will be there. I think that will be the easiest way to get into the market especially because we won’t know the market as much as someone who has been there 5 plus years.

@Blake Park that’s where we’re running into issues. My wife and I are actually from grove city so we know Columbus really well!

@Caleb Brown that’s exactly what we were thinking house hacking first for sure.