All Forum Posts by: Account Closed

It comes down to the math. But, the best would be to use the FHA loan so you can make the 25K go further. You can always refinance out of the FHA later.

Check out Wheelbarrow Profits podcast.

Hey @Jordan Gay . I am closing on a multifamily in Clover in a few weeks. This is my first property.  I'll be moving into it to owner occupy for a year. We should connect.

I understand about the taxes but the bottom line is if it cashflows to your requirements, then the property tax doesn't matter.

I'd agree that a fourplex, followed by a triplex, followed by a duplex with an FHA loan would be the perfect first property.

Just about 2 months ago, I was ready to finally buy something after 4 years of wanting to. I stumbled upon the fact that you could use an FHA for this. Well, we (family of 4) are closing in less than 3 weeks on a fourplex. After all expenses, including maint/capex, vacancy, ect, rents as is (a bit below market value), we'll be paying less than 300/mo to live there. The other units cover PITI at current rents.

Probably tough to do that with anything less than a four unit but much easier tofind a duplex.

Look into this http://erentallock.com/3222/3243.html

It will allow you to set a code one time in person and then make new ones from their website. Maybe just get a copy of their driverslicense, make a cod for them that lasts for an hour during specific times etc.

I have never used these but came t the conclusion recently it was the way to go if you had no wifi access.

NO. Sounds like a very bad idea unless you have experience.

Might want to shoot for an owner occupied loan and think about Cash on cash returns. You could use the saved money putting low down, for downpayment on next property.

Now the PMI is for the life of the FHA loan.

All I can say is DO NOT SETTLE for an agent who has not bought at least one multifamily property or worked with tons of investors on similar deals. 

 Thanks Mike, you regrounded me actually.