All Forum Posts by: Duane Gunkler

Congrats @Nathan Churchill! You are already ahead of most who decide to explore REI by taking that first step! @Brandon Turner has a great video in the "How To" section of the videos titled "How To Get Started in Real Estate Investing for the Struggling Newbie" where he talks about learning how to surf (while he was on his month-long vacation in Hawaii).  Every time he goes out, he gets a little further and a little further.  You've taken that first step and so the next time, you might go one step further and further and eventually you'll have your first purchase.  The key is, you're not just "sitting on the beach!"  Keep it up!!!

That is hopefully promising news @Harjeet Bhatti.  Thank you!

Thank you for the input @Harjeet Bhatti. The paperwork has been submitted for the HAMP program, but it doesn't appear that they have even processed it yet. My concern with the FHA loan is that she (and technically we since I am on the loan), are filing the partial claim on the FHA loan as part of the HAMP refi. So does having the partial claim prevent me from getting that second FHA loan. Hopefully I will be able to have a definitive answer once the lender processes the refi and HAMP paperwork that was sent in.

Thank you @Stephanie P. for the reply and the link! That article seems to be referring more to how the alimony is treated in the event of the divorce. My concern is with FHA eligibility with having the partial claim filed. I'm struggling to find any information on that component, but I will continue searching. Thanks again for the input!!!

Divorced in March of 2015 and moved into an apartment while my ex-wife stayed in the house with the kids. She was never late, but the mortgage payment was high for her, so she has now done a modification using the FHA-HAMP program to lower the mortgage payment while she is ramping up income (having been a stay at home mom for the last 15 years). Although the divorce decree stated that she would try to refinance to get me removed from the home mortgage, she has been unable to do that and so I am included in this HAMP modification and still on the loan for that home.

My question is regarding the impact that will have on me trying to house hack when my lease is up on the apartment. My thought was to possibly purchase a multi-family unit (duplex, tri, or quad) so that I could live in one unit and take advantage of the 3.5% down payment requirement of an FHA loan. My concern is that because the HAMP program is a partial claim on the FHA loan, will that affect my ability to get an FHA loan, even though it is my ex-wife's house that is utilizing the program? I have a feeling I already know the answer, and don't like it, but I'm curious to hear some feedback and/or suggestions from the BP community.

Thank you in advance!

Thank you @Curt Smith for the perspective!  I will definitely check out the bullet proof rental portfolio link you mention in your profile!  

Thank you @Will Gomez.  I would love to connect and get to know more about what your experiences have been and see how we might be able to help each other.

Thank you @Patrick Miller.  I would love to connect to see if there is anything we can do to help each other!

Hello fellow Atlanta investors. I am new to this REI world and would love to discuss what I'm learning with those in a similar phase of learning as well as those who can provide additional knowledge and/or mentoring. I became a PRO member this week so that I could start analyzing deals and would love to share some of my findings to see if I'm way off on my numbers from what you have seen. I feel like I have found a couple decent deals on some small multi-family properties, but don't have all the knowledge to take that next step yet, so I'd love to hear what you say. I'm also open to partnering on a deal if the numbers look good and it is mutually beneficial. I don't have a team together yet, so I would love any recommendations anyone has on contractors, property managers, financial resources, etc.

Thank you in advance!

@Young C. I have no clue what advice to give you as I am new in this world, but either way, congrats on taking the plunge!!!  I look forward to being able to post about my first purchase!