All Forum Posts by: DeMarcus Washington

@Albert Bui That was excellent advice! I have considered FHAing a multi but idk about using the renting value as income. That's both brilliant and perfect. Also, I'm far from a 700+ so unless a miracle happens that may be the way to go. Thanks!

@Brent Coombs I'm working on taking care of my debt and credit. It's just gonna take longer than I'd like because of my low income. I was a poor spender. I'm a moderate one now. However, I'm self educating to become an excellent spender. And I don't own a home. 

How do you go about being able to rent to Section 8 voucher holders?

Christopher Phillips I am looking for an investment property. Unless I can find a stellar property I don't want to FHA. Like you said I'll probably have to partner with someone. I spoke with a MLO recently and he said they go with the lower FICO which would work if my partner has a higher score. Now I just have to find a partner and/or private or hard money lending. Thanks!

Shaun Weekes That does help. Thanks. I wasn't sure how much more lenient FHA was.

Hello! I have the 20% and 640 credit score for a conventional loan however I don't have the necessary income to get approved. With my current debt and a $500 mortgage I'd need to earn $28k annually and I make less than $24k. How can I get approved for lending with my income?

Jarvis Smith Can you recommend any hard money lenders? Preferably in our area.

Mychal Dotts Miki S. Hello! I'm also a beginner REI in the GSO area looking for my first deal. I was at the REIA meeting in GSO on 6 December. If you were there you should've heard me introduce myself. I would love to get with you guys and discuss how we can get started!

Nick Ferguson You seem to have a lot of valuable information. I will soon be in this same position: At least $20k and looking for a buy and hold multifamily or a flip (through conventional lending). Could you provide me with more information? We could schedule a voice call or Skype/FaceTime if that works better for you.

Idk the market too well but I do know the quality and cash flow you want is a big factor. Closer-to-average single families are $100-125k. You'd have to go to High Point or Burlington for that price however their economies aren't as strong. There are also a lot of colleges in the area and the Triad area is pretty affluent. There's money to be made but property prices also reflect that.