All Forum Posts by: Dimitar Popov

Thank you for the great feedback Matt. I'll definitely check the links you referenced above. 

You are correct, the podcast are an incredible source of information that help to listeners better understand what works and the different challenges that are out there.

I'll definitely set up alerts and connect with BP members in my area to expand my network. 

How is the market in Lehigh Valley and what are some of the opportunities/challenges you have there? 

Thank you once again and looking forward to connecting more with you. 

Hello BP members,

I would like to share my current experience with mortgage preaproval letters from lenders. 

When I first started the process I got preapproved for a conventional loan with 5% down. However if I was to buy anything different than a single family home I would have to put 20% down because they are considered investment and at higher risk. My mortgage broker shared with me that I could also apply for FHA at the same time and thus I would pay only 3-3.5% down if I purchase a duplex. This option gives me the opportunity to use the different preaproval letters depending on the case when submitting an offer.

The one thing a noticed is that with the FHA you will have to pay PMI for the duration of the entire loan unless you refinance and with conventional for the first 20% only.

Hope that helps. 

Hi Chace, 

Thank you for the insightful feedback and encouraging words. I really want to start in real estate by becoming an agent together with buying and holding investment properties at the same time. I've been looking at duplexes and also single family homes in my area, but it is a bit slow at the moment. How is the market in your area? 

I've been researching and watching the BP podcasts in the past few months and I find them really helpful and informative.

I will also connect with Martin and see his prospective. 

Thank you once again and have a great rest of the week. 

Hello Zack, 

I am looking for single family and multifamily homes between duplexes & fourplexes in McHenry and Lake County. Right now it is difficult to find any multifamily homes that the numbers work for, and this is why I am also looking at single family homes that can flip and/or house hack for a while. 

Thank you for the help and I will definitely reach out to you in the future. 

Thank you and have a great week.

Hello Patrick, 

Thank you for the follow up. I've been looking at properties around Crystal Lake, Cary, McHenry and the surrounding area. I'm yet to explore Rockford and its neighborhoods, but will definitely like to hear your prospective. It looks like the market is a bit slow now, but it is expected  to pick up in the spring and hopefully more properties with better margins start showing up. 

I've taken the www.realestateexpress.com courses and found them very affordable, informative and helpful for people with busy schedules that want to get prepared for the RE exam. 

When does your buddy have the meetup in Rockford? Is it on a weekend or during the week?

Please do not hesitate to contact me if you have any questions. I am always happy to help. 

Have a great rest of the week.

Great job Ashley. I truly enjoyed your podcast and the hard work that you put in to get to this point. This is all because of you and you never gave up on trying to create a better future for you and your family.  The podcast was very inspirational to me in such a way that I am in the process of obtaining my real estate broker license in Illinois. I've already taken all prerequisites and will sit for the exam next month. 

Once again, best of luck in everything and looking forward to connecting with you and working with you in the future.

Thank you Martin,James and David for the warm welcome. It helps a lot when someone is new to a group, forum or gathering and I truly appreciate that.

I am located in McHenry County, Northern Illinois. I am also getting ready to take the Illinois Real Estate Brokerage exam. I have taken the required credits for it and I am scheduled to take the exam in February.

David, 

It will be great if you can send the info for the education-related estate investor group which meets in the Lake In The Hills. It is not far from where I live. 

Thank you once again and looking forward to being part of the community and help and contribute with wherever I can. 

Have a great rest of the weekend. 
 

Hello Bigger Pockets members, I am new to real estate and real estate investing and I am really excited and looking forward to learning from and contributing to the Bigger Pockets community. I am in the process of searching for my first investment property in McHenry county, IL and any advice for the newbies like me is much appreciated.