All Forum Posts by: Ebony Bolton

John Leavelle thank you for your input. I will make some changes to the numbers.

Could someone please help analyse this deal. Not sure if its a good one or not and if my numbers are correctly inputed. This would be my first purchase. the link to the Rental Property Calulator report is attached below. Thank you for your assistance. https://www.biggerpockets.com/calculators/shared/649687/d444bb88-4e51-4e7f-9cc8-e687e35af563

Could someone please help analyse this deal. Not sure if its a good one or not and if my numbers are correctly inputed. This would be my first purchase. the link to the Rental Property Calulator report is attached below. Thank you for your assistance.

Ebony

https://www.biggerpockets.com/calculators/shared/6...

Hello everyone. I have been looking at some low priced duplexes under 75k in the New York area. My question is... od lenders typically make 15yr or 30yr loans on homes priced this low or do they require a higher minimum loan amount? 

I ask because we attempted to to get pre-approved for a property priced low and we had 30% to put down but Chase Bank said the property amount did not meet their criteria. However, they did not say what the minimum criteria is. 

Please assist. 

Thank you

@Tanya Davis Thanks for responding. What do you know about the 19th ward area? I am from California, not at all familiar with Rochester.

Thank you

Thank you for responding Matthew,

My husband and I are looking into purchasing 2-3 multi-family unit properties under 75K each. I am not very familiar with Rochester, but compared to where we live in California this seems to be our best strategy to get started. Could you shed some light on some good affordable areas? I've constantly been on realtor.com, loopnet, redfin and the like. Deals seem good, but I don't know the areas.

Ebony

Can anyone please recommend a Real Estate Agent who has lots of experience in multi-family investment properties in the Rochester, New York area? Thank you in advance for your assistance.

Can anyone please recommend a Real Estate Agent who has lots of experience in multi-family investment properties in the Rochester, New York area? Thank you in advance for your assistance.

Thank you for responding Varinder,

Should I get pre-approved first? And would it be a single loan or separate loans for each individual property?

Hello everyone,

My husband and I are looking to purchase our first property, actually looking to buy 3 deals under 75K each our first time out. My question is how do we go about financing 3 deals at once? We have enough to put the down payment and reserves on these properties. Do lenders finance multiple properties at once?

Please help,

Newbie Ebony