All Forum Posts by: Ryan Fitzgerald

@Matt Rothwell Thank you, great information. I'm going to reach out separately don't want to hijack the great thread by Yates.

@Yates Snyder Keep us posted on how the search for your first home goes!

@Yates Snyder That is a great question, thank you for posting it... There is a lot of newbies just starting out who don't know the answer such as myself. Your creative thought process is great... you have a plan B (potentially using the land to store boats, not a bad idea). 

IMO @Jason Kha gives you a great starting point to find your answer; is the home a good buy or not? You can always offer the seller under the listing price, and making your first offer will be good experience... Never be afraid to walk away if it's not the right deal. You make the money when you buy, and there will be other deals. Stick to your plan, remove emotion.

@Matt Rothwell Don't mean to be ignorant, just curious why Raleigh is a tough market for someone starting out? 

Welcome to BP! @Nate Griffin 

@Bailey Tollison Welcome to BP Bailey!

@Joseph Zanazan - Thank you for the great information, I appreciate it.

@Ann Bellamy - Thanks for the colleague request, it's always good to have a backup plan so I may take you up on that!

Thanks again for the advice and info!

@Account Closed @Shaun Weeks

Thank you both!

I'm looking into a multi-family unit that I can live in and rent out. The goal would be to live for free and maybe even generate a little extra cash flow. It will be my first home purchase and I'll plan to live there for at least one year.

Similar to Miriam, I'm also planning to wholesale/flip homes to help generate more cash and buy more multifamily properties.

Hope that helps!

Hi Everyone,

I'm a newbie to all of this and I've done some research over the past few months... Already made my first mistake. So for those of you reading and not participating here is the mistake I made I encourage you not to...

Mistake #1

I assumed that my bank offered FHA loans so I went online and filled out the application to see what I could be approved for and after they put a hard credit inquiry on my credit report I found out they don't offer FHA loans.

Can only assume I will make many more mistakes along the way, thank god for BiggerPockets to help reduce them! :)

For those of you who have done an FHA loan before who did you use and what was your experience like... or what is your recommendation?

Thanks in advance!!

Ryan

Welcome to BP @William Murrell !

I may end up doing some RE investing in the Wilmington area as well.

What's your favorite read so far on Real Estate investing?

Best of luck to you!

Thanks everyone!

@Lynn Currie

It looks as though you have a duplex with 6 beds selling for 700k, out of curiosity what do you expect the monthly rent would be for a property like that?

Thanks again!
Ryan

@Michael Jobe

Thank you all for the info!

Michael - Does that shortage include all of RTP or is that Raleigh alone? How about MF units vs. SFH, I'd most likely live in one of the 2 units to take advantage of first time home buyer tax breaks, and how is it being an agent in the area? Thank you so much for the info, best of luck to you as well, and I owe you a coffee if I make it down there :)

Johnny - Great point on the price/rent ratios, I'll have to examine this further before making a purchasing decision. Are you actively investing in Hawaii, and if so how is that going for you?

Thank you!

Ryan