All Forum Posts by: Cody Ford

 Im looking for answers on if this property is going to cost to much to repair later?  

How can i get the funds to get this property with out having to owner occupy the property?

Im currently looking at a property that has tenants living in them. I thought the posting said 3 unit but my realtor gave me the paper work on it. I looked at the paper work and its  a 4 UNIT  property. Im waiting to hear back to go look at the last unit. The 3 units one is renting out for 950, 700, and 650. Everything is functional in the property it is a older home. The property does have heated radiators through out each unit. everything is separated for each unit electricity, gas, and window units in each property. Year built 1922. The property is selling for 224k. All units are occupied. This property does look good in my perspective. Im still waiting to see other unit and see what is it renting for so i can crutch some numbers on it. 

I looking to take action 

Can anyone help with some questions I have

Will this property cost me to much down the road?

What are other ways to get this property with out having to owner occupy, FHA, conventional?

I would like to know more about ways to use OPM

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*This link comes directly from our calculators, based on information input by the member who posted.

@Mia G.

Yes it is

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*This link comes directly from our calculators, based on information input by the member who posted.

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*This link comes directly from our calculators, based on information input by the member who posted.

@Nicholas L.

I don’t know I got a rural development loan

Didn’t pay any money down

@Nicholas L.

Your right I should have been saving it for something else but I didn’t know about bigger pockets till about a week ago. Lol I’ve just been paying the mortgage and putting money back. I want to keep learning about RE and when my roommates move out in a year. I want to make a move to get a family in and me by another property to live in and fix up. Either rent out the rooms or rent out one side and live in the other if I find a duplex. When should i refinance my house to get a lower interest rate? So my payment will be cheaper. So when I rent out for more I will have cash flow.

@Michael Wentzel

Ok thanks man I appreciate it. Thanks for your time

@Marlen Weber

I bought this town home for 208,000 I’ve paid 8000 to principle roughly since I have been here. Next feb will be 2 years. I have my brother living with me paying 400 bc I’m helping him out. I have a Coworker living with me paying 475 he is moving out at the end of this month and I have 2 months before another co worker/ friend is moving in. I will be charging him 600 and my brother 400 they are only going to be here for a year. My mortgage is 1390 a month at 4.5 %. I’m still learning and continue to learn till they move out so I can make a move on what I should do next. Any Ideas?