All Forum Posts by: Cody Neumann

@Terri Dyer

The fact that bigger pockets real estate podcast has been advertising for Lima one on recent podcast worries me that they don’t know about this. I recently refinanced with Lima one a few weeks ago and didn’t know about this so hopefully it doesn’t go south

@Mariah Kohan

Reach out to some local banks around your area to see if they offer low down payment around 3 to 3.5%. Once you have a lender you will want to find a realtor who has knowledge on investing in real estate. After you get yourself a realtor have them set up a search for 2-4 unit properties. Once you find one that would work your best bet would be to do a low down payment which will require you to live in one of the units for a year but it will help you get the ball rolling.

Hope this helps! Any more questions feel free to reach out anytime.

@Jonathan Marx

Try a local bank like a credit union or give banks in your area a call to see if they are portfolio lenders. Typically these lenders will offer 15-20% down payments

@Brian V.

I second Tina’s response. You will also gain good understanding of price if you pay a contractor a hundred dollars just to walk through it with you.

@Frank Agyeman-Duah

I would pass on them. I require my tenants to make told household income of 3 times the rent.

@Danielle Champagne

Ask them if they have any investing experience such as flips or buy and hold. Test there knowledge of the area to make sure they know enough about it.

@Jose V.

Have you closed on it yet or are you still in the process

@Jeffrey Wallace

Congratulations on the new house! Best of luck!

@Pardes Seleh

Welcome to Bigger Pockets!

@Johnny Encinias

This is a great way to get started. If you plan to flip it you should live in it for two years so you don’t have to pay taxes on the profit. If you plan to rent it you can move out after the first year and then refinance.