All Forum Posts by: Erica Viverette

 The major term of the loan that I didn't like was just the fact that they require that you don't own any other properties for the life of the loan but I'm actually beginning to reconsider my decision and will contact them today. I did get as far as meeting with a counselor and developing a savings plan and it seemed to be very promising. I'm sure this post hasn't answered your question and I'm sorry about that. I genuinely can't remember my other reasons. How is your experience with NACA going so far?

Thanks for your comment. I have been on a roller coaster with determining which route I'd like to go for my first property and have decided to retry the NACA program.

The major term of the loan that I didn't like was just the fact that they require that you don't own any other properties for the life of the loan but I'm actually beginning to reconsider my decision and will contact them today. I did get as far as meeting with a counselor and developing a savings plan and it seemed to be very promising. I'm sure this post hasn't answered your question and I'm sorry about that. I genuinely can't remember my other reasons. How is your experience with NACA going so far?

I would like to attend! When and where is the next meet up please?

Yes, I went to my intake appointment last month and was told to save a designated amount for three months consecutively. I will then return for a follow up appointment in June and hopefully then I will receive the okay to begin looking for homes. We went over so much during intake that I forgot to ask how repairs are factored into the loan. I had to do a few letters of explanation for a couple outstanding debts I had. I've heard horror stories with NACA but have had a good experience so far. I will be calling my worker next week to make sure she's received all my required supplemental documents. I'm glad I found this opportunity. By this time next year I plan to be a first time homeowner, landlord with a new credit future. Please keep me updated.

Hello fellow or beginning REIs, 

I need advice as I've been thinking of obtaining a multi-family property through NACA due to me having limited liquid funds and fair credit. I'm in the process of credit repair as I've hired a company in conjunction with me clearing things up myself however, I still have a long way to go. I feel as if I'm wasting time with all my ideas and learning (although beneficial) yet letting my current situation keep me stagnant. I'm aware that among this loan I will have to owner occupy but I was just thinking of taking the worst apartment and doing repairs myself gradually. Although my money is mostly tied up I don't need this unit for immediate gains. Aside from monthly repair expense reserves and mortgage, I'd like to remainder of funds to until I snowball the total amount and life of the loan adding my disposable income to payments when they become available. The benefit of this to me is an expiration of my procrastination, beginning my REI career now as opposed to waiting, learning about REI with minimal risk, being able to include repair costs to the loan, no closing costs, fair yet improving credit. All advice is welcome!