All Forum Posts by: David Dye

Shoot me a message. I have investor programs that allow for 80/20 deals with a 680 credit score and some experience. Fees are much cheaper than hard money and you are not limited by DTI. Cheers! -David

Hello @Ralph Grace! Welcome to BP!

What is your strategy going to be in these areas... It makes a big difference...

Cheers!
David

@Brock Laramee it is generally between a half and one percent a year. There are many ways to work it depending on the amount of coverage you need. 

-David

Hey @Mark Shuter! You hit the nail on the head. Lancaster.

-David

@Brian Godlewski That is great news!  The other David and I are generally on the same page when it comes to out of state investing.  As a Californian, I understand the obstacles you are trying to overcome.  The only time I would go out of state is if you have a good team and/or family that can take care of issues as they arise (assuming they are okay with this).

Cheers!

@Rachel Huang is your intention to lend your own money?

-David

Welcome @Brian Godlewski! Do you still have family in MI?

-David

Hey @Michael Sarkissian! Welcome to BP! 

I'm from Los Angeles (another high priced area) and have managed to stay in state with limited capital.  Keep in mind all the costs to just go see your property out of state (flight, hotel, rental car, time off work, etc.).  I am of the mindset that I would rather be able to drive two hours or so to my property rather than have to go through all the hassle (and cost) of going out of state.  There are areas in CA with similar returns as out of state.  Would love to connect with you!

-David

@Tanner Hargis PM me. There are low down non FHA programs where you can make the mortgage insurance monthly or pay an upfront fee. If you can qualify for a conventional and the DP is the only issue, there are ways to make it work so you don't have to refi to get rid of the insurance and you are not limited by the residency requirement. With FHA, keep in mind there is a large fee due upfront and then the monthly PMI.

-David

@Joseph Shin I would find a good real estate agent that knows your area well and knows the rental market in your area.

Is the down payment the reason that you are looking into the FHA program? Living in half of a duplex is a great way to make the 'live for free' happen ...Especially since they are helping pay down the note month by month. However, it depends on how you structure the deal to see if it is going to be worth it.

-David

@Joseph Shin