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All Forum Posts by: Eli Keckeisen

Eli Keckeisen has started 2 posts and replied 3 times.

My partner and I have been researching real estate for a couple years now and are ready to take the first step towards financial freedom. We are looking to use either an FHA loan or an ARM to buy a single family home, that we intend to house hack, and BRRR. We are leaning towards an ARM loan because we do not intend to hold the property for more than 5 years and we believe that the terms are more favorable to our situation than an FHA loan. We specifically like the fact that with an ARM we do not have to live in the property for a year like an FHA loan requires. Our main inquiry is: How common is it to get an ARM with 5% down (or something very close to that)? Also people who have experience with ARM loans, what are some common pitfalls, and things to watch out for?

Please post any and all information you think would be helpful!

Best,

Eli 

When does this meeting happen, the 19th each month? Could these be added to the email list

[email protected]

[email protected]

Post: Real Estate investing for an 18 year old

Eli KeckeisenPosted
  • Posts 3
  • Votes 1

A friend and myself are deadest on achieving financial freedom. We do not want to be forced to work for the rest of our lives and instead want to build our wealth starting early. We are both 17 years old and a Seniors in High School. I have 3,200 in liquidity and I estimate I should have north of 5,000 before the school year is over(we have been flipping furniture on Facebook marketplace and have made nearly 1,000 in the past 4 weeks). 

Both myself and my friend are deeply contemplating rental property investment when we turn 18. We project we should have somewhere around 10k cash by the time we both turn 18. Our market is around the flint area of MI and we are looking at purchasing a multifamily property. We are aiming for the nicer parts of flint with clean water, good schooling, and stable infrastructure. We are looking to buy a duplex, or triplex under 200,000 with either a fixed rate FHA loan or a 203k loan. We would be house hacking for 1 year and cosigning the loan. We have also secured a real estate agent who will only take 4% commission and who will guide us through the process.


Obviously our plan is very elementary in nature as we have analyzed a minimal amount of deals and are not entirely confident in our abilities to determine the ideal purchase. However, I'm looking for some advice from investors who also started early or have experience in some capacity. Maybe you could lend us a hand in our thought process and open our minds to strategies that would be conducive to our goals and financial constraints.