All Forum Posts by: Erik Orozco

Waow! Congratulations! All your sacrifices and discipline were well worth it!

Loved it @Mike Snyder! That got me out of my seat and pumped up! He's right @Devlin Quarles I'm a brand new papa, father to a 5 week old little girl and I've never felt such a fire to improve myself and provide the life my little girl deserves. Best of luck! And many thanks to the constant support the BP community provides!

Erik

@Thomas S. thank you that's a much larger amount then I had planned for.

@Chris Mason That's some very interesting insight. I see how the HomePossible could be beneficial over FHA. I'll be sure to discuss this with a local lender before making my decision. Thanks again for the help!

@Chris Mason thanks for clearing that up. I will definitely speak with a local lender and do more research on both FHA and HomePossible. What are the compelling advantages HomePossible has over FHA? From my research I was under the impression FHA was the way to go.

@Thomas S. I've got the down payment covered. Currently working on the reserve fund. What should the reserve include besides PITI?

@G. Brian Davis I wasn't aware it had to be a gift. Thank you! I'll be sure to reach out to you in I have any more questions!

Hi, newbie investor here looking to purchase my 1st property. I'm focusing on small multi unit properties I can "house hack" to get started. My question is if I'm purchasing said property with existing tenants can I use rent and security deposits as part of my down payment at closing? If so is this simply done by negotiating with the seller and adding it to the contract?

Leo Gonzalez Great question! Christopher B. I would like to try this exact direct mail campaign to absentee MFH owners in my market. I'm interested in house hacking a 4-plex for my 1st investment property. Seems like your response rate is great as far as direct mail goes, can you spare any of the specifics? What service you used, costs, and message on postcard or letter? Also, once they call I'm sure you have a set of questions you like to follow before you jump right into price negotiations. I'm curious what these questions are? Thank you ahead of time for any advice!

Thank you for the input fellas! Looks like they have some homework to do.

My sisters house has appreciated 60k over 2 years and are looking to sell their home in the near future. The home is a 5 bedroom 2 1/2 bathroom and they would like to downsize or move back in with our folks. They're interested in investing in real estate and they live in Seattle, WA. Any suggestions on where and how they should invest their money?