All Forum Posts by: Dhru Das

Hello all

My credit score 770. Please PM me if this is something that will work for you.

Thanks

Dhru

Thanks

Dhru

is there a minimum loan amount and how many points do you charge?

@Kevin Dureiko

When is a good time to talk? I am looking to invest in IN.

Dhru

@Nikki Botsko welcome to Chicago! I live in Chicago and invest while working full time in IT...I am into multi family although I do own few SFRs. Glad to be of assistance if you need anything. But yeah going to REI meetings is where it at.

@Nikki Botsko welcome to Chicago! I live in Chicago and invest while working full time in IT...I am into multi family although I do own few SFRs. Glad to be of assistance if you need anything. But yeah going to REI meetings is where it at.

@Louis Trinca...yes FHA is great. I don't think it has to be your first home to qualify for FHA loan. I just finished my 2nd home by FHA 203k loan and it was my 2nd home. However my 1st loan was conventional. That being said, as long as you live in the property for 1 year(Normally the lender will have you sign the Letter of Intention) you should be able to do whatever you want with the property after that...like renting it out or selling etc..You can also buy another FHA mortgaged property as long as you sold the previous FHA property or refinanced into a conventional loan. As far as I know you can only have one FHA property at a time but you can buy as many as you want provided you live in each property for 1 year and then sold/refinanced out of the previous FHA loan. This is just what I know. Other investors can provide their input as well. If you look into rehabbing the properties then you should look into FHA 203k program. It takes time, and lot of documentation but its worth it.

@Paul Bommarito welcome to BP!

To start with house hacking is great...2-4 unit building and living in one unit while renting out others. That can also allow for live-in flip like living for couple years and moving to next one...lower down payment like fha 203k etc is also great option for this...cheers!

@Natalie Grimaldi you should look into FHA 203k loan...its great for house hacking..I just finished rehab in my 3 unit building with 3.5% down and rehab cost also included in the loan...The loan takes a bit longer and lot of process involved but if you can do it, its great...another option is 5% down conventional loan for 1st time buyers..

Cheers!

@Vishal Didwania woodlawn can be spotty..Not sure where exactly in Woodlawn your building is, but try staying close to Jackson park if possible..As always drive around the block, you will see how things change one block to another.

agree with @Jon Holdman..its nothing but speculation at this point. People from Chicago would love to have Amazon set shop here like everyone else wants Amazon in their city. There are lot of variables involved than just universities, or airports....we shall see.