All Forum Posts by: Dominic Augustine

So I am trying to utilize an FHA loan and trying to obtain a (4) unit property as, from what I understand, if I were to buy a duplex with an FHA, i would no longer be able to get a (4) unit FHA again, but would be able to if I originally bought a (4) unit (I would not be able to back track as it may be a sign of fraud). With that said, one property I recently looked at had (2) duplexes that the owner was selling as separate properties right next to each other. If I were to ask her to get them on the same Tax ID number before closing, would I be able to qualify for the FHA loan for all (4) units? Thanks in advance Bigger Pockets Community!

So i was specifically looking in the village of "West Milwaukee" so on Greenfield Ave and east of Miller Parkway. How is that area? I can't seem to find any crime data showing that area as it doesn't fall in west allis and doesn't fall in milwaukee either..... 

I am looking to buy a house in west milwaukee, but don't know the area well enough to know if it is a good neighborhood or bad. It would be my fiance and I living there and I want something that I would feel comfortable with her being alone at. We would also look to rent it out and want to get an idea of the tenants. Would look west of miller parkway north of Cleveland ave and in west allis too. Thoughts?

Hello BP community, I am looking to buy a single family home and was wanting to know, if i rented to my fiance, while I am living there as well, can I claim the home improvements as a tax deduction? I would look to do the work myself so did not know 1) if this is legal when it she will become a family member as I have read that you can claim the % of the rental as a deduction when renting 2) If now that I am renting I have entered into the area where i will need to hire a professional contractor to do the work? Thank you and let me know of details that need to be filled in to get the best response!

Hi all, looking to move to Minneapolis area eventually and want to get started investing in multi family homes there. Would anyone be able to recommend a good realtor for that area that owns rental properties, can give good advice, and knows the area/market very well? When we do move out there we would also want someone that would be good for flipping homes as well. Thank you.

@Darren Budahn: I was going to get it under the FHA originally and only convert one commercial into a single dwelling and at a later date do the one bed and two bed in each unit. Do you know though, one thing i am confused on, is the four unit with an FHA only good on your first home? Meaning when i buy a property, with or without FHA, does FHA only offer the next loan with only a single family?

Thank you guys for the advice. I'll keep plugging away waiting for something to come on the market.

I am a new bigger Pockets member and a new investor. I have not closed on my first deal yet, but am looking to utilize the FHA loan to its best leverage and get a 4 unit for my first one. With that my mortgage person had told me that FHA allows a mixed property of commercial to residential, but the residential has to be at least 51% of the sq. ft to qualify the loan. With that I found a property where on the ground level are two commercial units and the second floor are two apartments. I would need to convert one of the commercial units to residential to qualify and since the area does not have a ton of rentals possibly convert the other as well. In total the building would then have an additional (4) units (each commercial would get an additional one bed as well as a two bed) so (6) all together.

My question is, is it worth converting with all of the updates that would have to take place such as getting the bottom units up to code, possible sprinkler system, etc. and the needed acceptance of an architectural plan drawing from the city? 

I am starting to lean towards the No as it seems like it would be alot of extra cost, but do not know and don't want to miss out on a possible deal by not knowing. 

Also, could anyone recommend a good contractor in the Milwaukee area that I could walk through the property with the get a guesstimate?

Thank you Bigger Pocket Nation!

My name is Dominic Augustine, I am 28, have my mechanical and civil engineering degrees, am a business development manager and am looking to gain my financial freedom fro real estate investing! My goal this year is to close on a deal (4 unit multi family) utilizing the FHA strategy and doing so in the niche I decided on, higher end communities. My long term goal is to have enough cash flow per month that I can have the freedom to retire from my day job at an earlier age than most people (before 45). To get there I hope to meet all the great people on Bigger Pockets and learn from the wealth of knowledge that makes this pool soo deep haha. Nice to meet everyone!

I am looking for a fourplex Multi Family home to buy that my girlfriend and I would be looking to owner occupy. I am looking in the Oconomowoc, WI area and am looking for something with either four apartments or two apartments and two commercial. Please let me know if you or someone you know is looking to sell! Thank you for looking!