All Forum Posts by: Darin Tripoli

@Jack B. The moisture from the plants will eventually eat away at the house. If you really want to allow it force the use of tents and make sure it's ventilated properly.. Chances are you will be able to smell it from the driveway. In my state a tenant has to disclose intentions and as a landlord there is no law that forces us to let them.. Medicinal or not.

I'm an advocate for Marijuana but the truth is it can really damage the property. Flooding moisture etc.

Goodluck

edit:

before anyone points it out. i do not have a mortgage on the house i am living in now and have been removed off the deed. i wont get approved for 3.5% down being on the deed to another property or so I have been told. i have another post here from a few weeks back asking about it. 

Thank you everybody for taking the time to quickly read over my post and thank you for being part of this really cool community making enough noise on the internet for me to stumble upon. 

My name is Darin. I am 38 years young and I am finally starting to take Real Estate seriously. I have bought 2 houses in my past and currently live in one after selling the first for a substantial profit. Currently I am looking to RE to further my investment portfolio and grow my wealth and financial freedom. I am reading every book I can download onto my kindle and just started the "UBG" offered on this forum. I am excited to say the least as I really believe this is an endeavor I have always needed but was too misinformed / uniformed to sink my teeth into. My current market is Rhode Island as I live here and want to understand a small state before venturing out across the country if ever at all. 

I am a business owner and have had some success in the past and have had some short comings recently, as my industry is constantly under scrutiny, that have me looking elsewhere for stability. I also work for the business 5 days a week but am very flexible to research and change my schedule around to fit into my new lifestyle as an investor. 

My current goal is BUY & HOLD multi families for rentals and long term income. I will be house hacking the first one that I am currently approved for a FHA loan at 3.5% down which frees up a lot of capital. Inventories in my area are very slim and have already lost a few really nice properties as I wasn't ready to pull the trigger or couldn't schedule a showing fast enough.

I have a lot to learn but take the approach of diving in head first on every project I involve myself in but this seems a little different. As I continue to read and educate myself I cannot help but think that throwing myself to the fire might just be the best bet or I may never end up pulling the trigger. Any well vetted members feel the same way? Anyone starting off like myself think otherwise or the same? 

I am really excited to be here and absorb as much information as possible. I take positive criticism really well and enjoy different perspectives and experiences as much as possible. 

Thank you for reading and if any Rhode Island ' ers  have any general advice or information on good REAs to join please feel free to send me a message. 

Appreciate you all!

I have been living in the same house for the last 6 years. I am not on the mortgage but am on the deed. I am looking to purchase my own multi family and live in one unit. 
At first I was told I qualified for owner occupancy rates and  a low percentage down and that excited me as it freed up some capital.

After I told the loan officer I was on the deed to the house I am currently in they recommended that I remove myself or I wont get the better rate and percent as a down payment.

I am okay with any avenue at this point but I found it really odd. Is this normal?