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All Forum Posts by: Erik Soto

Erik Soto has started 5 posts and replied 7 times.

Post: Long Term Rental

Erik SotoPosted
  • Rental Property Investor
  • Aspen, CO
  • Posts 7
  • Votes 3

How were you able to get a loan with only 10k down???

Post: New Investor looking at a house hack in Glenwood Springs, CO

Erik SotoPosted
  • Rental Property Investor
  • Aspen, CO
  • Posts 7
  • Votes 3

I found a multifamily property in my price range in Glenwood Springs CO. I'm looking for a RE agent who could help me out. I'm looking to househack... Potentially get an FHA loan with 5% down rent 2 units and live in the third. If anyone could point me in the direction of someone familiar with this area. Any help is greatly appreciated. Thanks in Advance

Post: Insurance Companies- Pennsylvania for SFR

Erik SotoPosted
  • Rental Property Investor
  • Aspen, CO
  • Posts 7
  • Votes 3

Hey BP friends. I'm currently looking at lower priced SFR properties in north central PA and wanted to know if anyone had recommendations on Insurance companies. Thanks in advance!

Post: Do I create an LLC now or wait?

Erik SotoPosted
  • Rental Property Investor
  • Aspen, CO
  • Posts 7
  • Votes 3

Greetings. I am a first time SFR investor currently in the process of looking for a property and was wondering if I should start an LLC off the bat, or I've heard I could get an Umbrella insurance policy? Properties I'm looking at are $150k and under. This will be the first of many, I hope! Thanks in advance!

Post: CPA/Lawyer to set up LLC in Pennsylvania

Erik SotoPosted
  • Rental Property Investor
  • Aspen, CO
  • Posts 7
  • Votes 3

Hey BP, I am currently trying to get my first SFR investment property and would like to set up a sole LLC. I am not sure exactly what coverage/services I will need, so would like to speak with a professional who isn't going to rip me off. Any help is much appreciated.

Post: Looking for 1st investment property-Williamsport, PA

Erik SotoPosted
  • Rental Property Investor
  • Aspen, CO
  • Posts 7
  • Votes 3

Hello, my name is Erik and I've been looking to buy a Single or Multi family rental. I've saved over 30k so far and think I'd like to get my feet wet. Looking in the Williamsport, PA area, if anyone has any advice on a realtor that has experience with investment properties. Any information will be greatly appreciated! Thanks in advance!

Post: Small loan mortgage for Investment Property - Impossible?

Erik SotoPosted
  • Rental Property Investor
  • Aspen, CO
  • Posts 7
  • Votes 3
Quote from @Sara K.:

Hi Michael, 

Our first (and only, thus far), investment property was purchased in 2017 for $80k with 20% down (so only financed $64k). As far as I know, this lender is still making these loans. I'd be happy to give you the information of the person we used, we've actually gone through her to purchase 2 primary properties since 2012 as well. 

eta: I should add, this is with no other debt beside primary home and 1 car lease, good credit and a good income.

 hello, i am in the same situation, looking for a small mortgage loan. Would you be able to help a newbie out? Thank you in advance