All Forum Posts by: Eddie Marcano

Thank you everyone for the replies. @Suzanne Griffiths I have never resided in any of these properties and the commercial property it's in a LLC.

@Chris Mason I thought it had to be a primary residence that I lived in to disqualify me from being a FTHB. This is why I'm confused about the situation. It appears that it depends on the program and the lender. The higher offer approach its new to me. I will have to discuss my options with my agent.

The issue is that I have around $30,000 saved up for this purchase and I'm trying to use the least amount as possible.

Thank you.

Hello BP

Its been a while since I have posted on this site, But I always end up back on this site for advice.

I'm currently preparing to purchase a primary residence. I currently own a commercial property In Upstate NY and a Rental property in Michigan. I'm not sure if this disqualifies me as a First time home owner. I know that there are programs that provide assistance to first time home owners.My questions are:

Do anyone know of lenders who provide closing cost financing or assistance in NY?

How will the lender know that I own another property if there is no mortgages on the properties?

Thank you In advance.

Hello BP

Its been a while since I have posted on this site, But I always end up back on this site for advice.

I'm currently preparing to purchase a primary residence. I currently own a commercial property In Upstate NY and a Rental property in Michigan. I'm not sure if this disqualifies me as a First time home owner. I know that there are programs that provide assistance to first time home owners.My questions are:

Do anyone know of lenders who provide closing cost financing or assistance in NY?

How will the lender know that I own another property if there is no mortgages on the properties?

Thank you In advance.

@Michele Fischer

The construction is set to be completed at the end of this year or beginning of next. I'm aware of others contemplating the same thing.

@Joshua F

@Joshua Feit

I'm also a new investor and have the same goals. I'm just hoping for the best but prepared for the worst.

@Micah Copeland

 @Timothy Riley

Thank you for the response. I Know nothing is guaranteed but this is a small city and i'm hoping this will improve the market.

BP 

Im currently investing in a market where there is low income and inexpensive properties.

A big development its being constructed in this area where it will produce around 1500 jobs.Right now most of the rent it's paid through government assistance.

Do you guys think this development will improve the real estate market in this area..

@Shaun Weekes 

What states are they lending?

@Christian Hansen 

 My only problem with PM are the miscellaneous fees they charge every month on top of their MGT fee and having to continuously call them to take care of something. I'm new to the landlord business and maybe this is common for PM, but I don't agreed with it. 

@Andrea M. Thanks for the response. yes.. i would except that i live 3hours away. 

Hello BP

We own a rental property in Schenectady NY. I currently have a PM but I'm not satisfied with their services. I'm thinking of using a handyman I now for repairs and having him on call. Finding the tenants my self and collecting the rent my self. Do anyone know of a reputable and dependable  PM in the capital region.

I'm open to any suggestion. Thank you.