All Forum Posts by: David Smyth

Would anybody be able to tell me the requirements for obtaining an FHA or Conventional mortgage whilst on a visa?

From what I gather I would need 2 years tax returns and 2 years credit history. Is there anyone out there who has experience with this and what the lender required?

Thanks

What are the most important metrics to use when evaluating a real estate market? Where do people find this type of data?

As a new member to the real estate investing world and the bigger pockets community, I often hear people talk about certain real estate markets and if it's a hot market or not.

How do people evaluate a real estate market and what are the most important factors?

Wow that a lot of information from everybody. Thanks guys.

@Dorothy Wulf - Hi Dorothy, I am definitely leaning towards buy and hold for my first property. I would like to get acquainted with the purchasing process before I complicate it with rehab costs.

Could anybody give me some advice on financing. @Brie Schmidt mentioned above that if I qualify for FHA I would qualify for 5% conventional. How common is this and what are the advantages to 5% conventional vs FHA?

Thanks

Hi Jeff,

Thanks for the reply. I am hoping to look within the city of Chicago and I have already briefly researched Logan Square and Avondale. In terms of numbers how close would Chicago city properties come to the to the 2% and 50% rules.

I have not moved to Chicago so I'm still unsure of the dangerous neighborhoods. What are the no-go areas?

Thanks

Hi everybody,

I'm a newbie investor that has been gathering information on RE investing over the past year and I am now ready to starting putting my money to work. Looking for some tips on buy and hold strategy in expensive markets as a newbie. (moving to Chicago in the new year).

Thanks

I am newbie investor currently based in London but relocating to Chicago in the next year. At the moment I am saving up for a down payment but still undecided on whether to target single families homes or multi-family using a FHA loan. Obviously as a new investor I would struggle to purchase in the hot Chicago areas.

Can anybody give a outline of a strategy and neighborhoods which have been successful in the Chicago market for someone just entering the game.

Thanks

David