All Forum Posts by: Darina Pogodina

Hello BP Community. Merry Christmas. 

I have a situation. I am from Russia but I have been living in Boston, MA for 7 years and I will become a citizen of USA soon. 

I have parents in Russia who due to a health issue need to move to the city of Saint-Petersburg. I need to buy 2 bedroom apartment for them. Since I am not a resident of Saint-Petersburg, Russia I cannot take local loan/mortgage to buy an apartment. The property management and financial offices there representing apartment buildings are not accepting financing from oversee. 

Does anyone know international banks who can loan money to buy apartments in Russia if I reside here, in United States of America.

Perhaps, there are some builders in Russia who are willing to sell their new constructions to United States Residents?

Any ideas and help very appreciated .

Thank you!

Thank you Paul, 

I will try to give you a call tomorrow, Monday . 

@Paul Timmins, 

Do I have to be a mender of IREM.org or NARPM.org in order to locate ARM and RMP.

I have trouble finding the right information you described. 

Thank you very much

Hi Sean!

Welcome to BP, it is great here. i am also from Boston Greater Area !

Shoot me a message :)

Hello BP Community1

I am looking into affordable housing that falls under Chapter 40B for Mass Housing.

Questions:

1) If I qualify and move in one of the condos, can I rent the place out after some seasoning in a year or two? Or ,perhaps , can I rent one rooms to someone or do Air Bnb occasionally, while still living there? Will this be prohibited even though I will owe the place? How does HOA treat this process? Not that I am going to announce that to HOA, however, they oversee everything and I am mot sure this can become a problem. Basically, I am looking to get some income on my residential property. May this work with Chapter 40B?

2) What are the restrictions to deed, if any? When can I resell the property and can I sell it at market value or it will be discounted for a long time?

Thank you all for your thoughts. 

Thank you Paul. 

I got it under contract for 91K 

I plan to live in one of the units and rent the other two. I will collect approximately $2000 - miss 35% of operational expense. So , after all, I will see 10% cap rate which will be about $15,000 in newt profit. 

I have to come up with about $14,000. I have 20% right now. 

So, what are my options?

I am going to hold the property for a while, at least I plan on that, depends on market condition and other aspects. 

Should I flirt in the future, the offer should have been lower. 

Thank you 

Hello Chris .

My lender did not say anything about 15% should I use whole amount received in a form of a gift.. I ll do my research. Have you done FHA ? May be MA is different?

How does Fannie  May home style renovation loan works? 

Thank you Chris 

Thank you Russ for taking the time to respond to my questions. I asked how I can get through it and If anyone has suggestions and ideas. There is always a way. 

Hi Everyone,

I am working on my first deal. I got the property under contract. It is 3 units in Worcester county, MA and it is a HUD deal. Financing through FHA 203k. I don't have all the money for downpayment and closing costs I have been told I need to get a gift from a relative.

What should I do, how I can get through it. Anyone has advice or insight for me please?

Thank you in advance!

Hi Aramis,

So what is the rental income there and vacancy rate? Would you buy and hold there now? 

I started making offers there for multi. Just need to get an insight and educated opinion. 

Thank you so much.