All Forum Posts by: Dan Gongora

Thanks for your feedback David! I appreciate it. Did you participate in this program at some point ?

Good morning BP community, Has anyone heard of or joined "freedom mentor apprentice program" by Phil Pustejovsky? if so, what are you thoughts/experiences? I would appreciate your feedback ! Thanks !

Hi Chris T. Here are the numbers -1st property 2014 market value 95k foreclosure 2 unit: 2 beds 1 bath each unit -offer price 80k purchase price 85k -7k down payment assistance -FHA 3.5% down -Made bank pay for closing costs -Made bank pay for repairs needed per FHA guidelines -Got about 2k back at closing -about 6k total repairs for downstairs Kitchen and bathroom -2 beds 1 bath rent unit 975 -2017 cash out refinance 75% LTV -new appraised value 150k -cash to close 15k 2nd property 2017 market value 145k 2 unit: 2 beds 1 bath each unit -Offer price 120k purchase price 135k -FHA 3.5% down -some deferred maintenance but rent ready. -2 beds 1 bath rent unit 975

Thanks Zack Karp Waverley Mosley Mark Faustrum I appreciate it

Thanks guys !

Good evening BP community,

Dan here. I want to share my experience since purchasing my first property in 2014. in 2014 i purchased my first 2-unit property with $0 down by purchasing with an FHA loan and down payment assistance. i house hacked the property until i had enough equity to cash out refinance to conventional loan. Using this strategy, i just closed on my second 2-unit property using the cash out from my first purchase as down payment for an FHA loan. i will be house hacking this property as well. living in one unit and renting out the other. I will repeat this process as many times as i can. I want to give a special thank you to @Zack Karp @Chris Davis for being true experts in their trade and making this process as smooth as possible.   

Much appreciated Jonathan Klemm I'll take a look!

Thanks Chris T. And Michael Barbari !!

Good morning BP community, I'm a real estate investor starting out in the Chicago-land area. With a background in finance. I have a full time job in financing/accounting and currently focused in Elgin IL. I've had a two unit since 2014 and closing my 2nd two unit this month. I'm also studying for my real estate brokers license. I would love to help a real estate investor in the Chicago land area in sweat equity to acquire more skills. Please PM if interested. I look forward to hearing from you. Thanks

Thanks John! Very much appreciated. I'll look into it.