All Forum Posts by: Drew Lamb

I had a house that I terminated the contract on due to the inspection and now the new buyers want a copy of my report. I was wondering if I could be compensated for it since I do not want to hand it over for nothing?

Hey community, just a curious question here, how much did you guys have saved up before you started investing in rental properties?

Just had a home inspection completed on an older home (1900) and they found knob and tube wiring. The house is a duplex with one side rented and is 3,600 sq. Feet. Also, I had an electrician come out to give an estimate and he came back with a price of $9,000 for both units. I was just curious if anyone had experience with removal of K&T and what your total cost was? And with any ideas about what to do with the tenants currently living in one side as this would not be a small project?

Joshua Machen thank you that's good news

I just made an offer on a duplex that would be financed with a conventional loan and I have a quick question. The house is not in terrible shape but needs some updating so I was wondering if it is alright to live in the one side and fix that side up and then when the other side becomes available (in 3 months) to move into it and fix that side up? Thanks guys!

Christopher Phillips thank you for the response! So month to month is what I'd need to look for then I'm guessing?

BP, quick question for you guys, I was wondering if you were to buy a small multi with 100% occupancy but needed to live in one of the units to fulfill your loan obligations what would you do? Or is there anything you can do?

@Melvin List @Craig Curelop @Ben Leybovich @Sam Shueh @Michael Cohen thanks for the replies guys! it seems to me after reading everyone's responses is to pursue the conventional. @Mariusz Bojarczuk that is what he said his bank could offer me for a small multi family as an owner occupant.... Credit score just north of 750

I noticed I didn't specify but the 5% is the amount for the downpayment...... The FHA rate was right around 4%

Hey community, I approached a bank today about an FHA loan on a potential property and after talking for a bit he told me they could do a 5% conventional if I was interested. I just wanted to see what you guys thought?