All Forum Posts by: Faysal Alam

Hey everyone ! I'm looking to buy a multi family here in NYC , I'm trying to do a house hack where I live free or close to it. My dilemma now is I have people willing to cosign me , but they will not be occupying the property , for all the low down payment options I see the cosigner has to be also occupying the property, if they do not I would have to come up with 20-25% which I can't afford to do . so my question is how would you go about doing this? I have about a 35-40k income my cosigner has a 33k income , and another cosigner I can get if necessary has a 25k income . I have around 50k saved up . How can I make this house hack happen ? 

@Jaysen Medhurst the don’t like stocks much if I’m being honest

@Jaysen Medhurst it’s actually my girl friend who makes the 30k , I currently am renting with a roommate who also pays 1k a month . I just want to house hack and live for very low or nothing . So mine and my gfs income would be 50k w2 income ...

I am now 24 years old , I am currently paying about $900 a month not including food, gas, etc . I have about 15k in the bank another 30k in cash and about 8.5k in stocks and 5.5k in my Roth IRA . So all in all about 59k . The problem is I want to house hack , but my w2 income is about 19k and about another 20k is tips . I want to house hack in queens (Hollis,Jamaica, Queens villege) . I have a friend with 30k w2 income who is willing to co-sign me . My question is , how would I go about doing a house hack ? Ideally I’d move to a 2 family with a basement apartment so 3 units , and live cheap to free while building equity . A home here would be 400-700k in areas I’m looking . How can I do this ? Help !!!

@richard what’s up man ? I’m not to far from you , I’m in briarwood . Maybe we can meet up for a cup of coffee and talk some real estate .

Christopher Liu where in upstate are you looking ?

@tarik I didn’t know they still do stated income loans . I thought that was a thing of the past

Josane Cumandala I’m looking in south Jamaica , Hollis , queens village , Cambria heights . And if I buy in nyc , I’m going to be occupying one unit in the home . And I am also a first time home buyer

Anyone ???

Hey everyone! I want to begin my investing career but not sure where to start , I make about 20k/year w2 and another 20k from tips , I currently am renting in nyc for $700 a month , I have 65k cash saved up . And another 9k in stocks, about another 1k in crypto currency.I️ was wondering if you were me , what would be the best way to put myself in a better position for the future . My ultimate goal is to build up enough cash flow to where I no longer have to work for other people, do you think I️ should try to buy a rental , or should I️ try to get my foot in the door somewhere here in nyc so I️ can eliminate my rent. Any input , any advise is welcome! Also , moving out of NYC is not an option . I live with my parents and they do not drive, nor do they speak English . so house hacking in nyc is the best option for me. But what loans/ strategy can I use to get my foot in the door here in nyc ?