All Forum Posts by: Demon S Rogers

@Delbert Standifer just my 2 cents. Please don't do it. There really seems like there's little benefit for you for this deal. If you want to buy it just to buy and use it for personal reasons doesn't seem like a bad purchase. But personally I am of the impression $45k can go a lot farther in real estate than one duplex at what I like to think of as a high interest. I personally wouldn't call it an investment. I also own no rent properties at the moment though and put in my first offer in on Saturday.

@Joel Calkins

I will keep that in mind thank you!

@Patrick Prunty

That's interesting you say that about 5 percent interest rates on homes. It would be my first time buying a house so I don't have much to compare it to even though I hear people say about a decade ago interest rates were about 5 to 10 percent higher.. I don't really know. I might consider an investment loan if the numbers still make sense.

@Jay Hinrichs

Thanks a lot I got no notification anybody reply so I didn't look back at the post. I will keep those amount percentages in mind!

Hey everybody simple question what do think about having an home inspector come out and performing an inspection on a house before you put a bid/offer on it. I've only seen the inside but realtor told me it needs new sub floors I want to get inspector to come in an confirm them have a contractor come look and give me an estimate. Do you think this is acceptable or normal to do before I put in a bid or not. I understand the market in the US and don't think this place is going anywhere anytime soon and if somebody does snatch it up I'll be fine.... thank you all. If anyone could give valuable input that would be great thanks.

Hello everyone I have questions on investment loans, and hard money lenders. I'm working on getting my first investment and entertaining the possibility of auctions and foreclosure using hard money (private lender) to close the deal then refinancing out using traditional lending. Is this possible? Questions I have about private lending do they check your credit and run and application as an traditional lender would the only difference is they are using the assest as collateral? And would this show up on my credit report when I go to refinance.

In regards to investment loans is a 4 or 5% interest rate really that bad? I'm thinking about this lending strategy because I'm not sure if I want to have to live in a property for the first year like most loans require before renting out and I'm not sure if I want to lie about living there to get a better rate not sure if people do this or not. It might bring my cash flow down but I won't have to worry about someone finding out. If anybody has an investment loan if they could tell their experience with them that would be great... Thank anyone for answering , I'm unsure about taking the leap because I want to know more options available to me so I can make a informed decision for my situation.. Thank you all.

@Dan M.

That's interesting to note, I'll be sure to keep that in mind. I've never really gone over what hard money lenders require for loans. I'll look at some now and see the terms and typical interest rates.

@Dan M.

Thanks for replying I definitely will do. Hopefully buying a primary residence will look better than an investment. I will call a couple of banks tomorrow I've ask them about a lot of things but definitely forgot to ask about my employment history affecting the loan. Thank you.

Hello everybody this is my first post here long time listener of the podcast but never actually visited the website. I had a quick question about my income history and if that will affect me being able to get a loan on my first investment property and or a primary residence that I could house hack. I was in school last spring, didn't work in the summer, and started working and have been since September. I know that loan officers typically want to see 2 years of work history but being in school I decided not to work, so I wanted to know if that will negatively affect my loan options as well as terms. If you guys have any knowledge on the subject any advice would be great. Hope this is the right place to post this. Thanks in advance everyone.