All Forum Posts by: Franky Juwana

Welcome to BP from New York ! 

That's correct if you already have FHA, but if you don't, you may want to consider regular conventional and compare both which ones that better suits your purpose.

thanks @Josh Mitchell for clarifying.

Hello @Audra De Falco , that's not a bad choice but what about getting a regular conventional loan, it may be higher interest but you could invest faster than getting FHA. Even some conventional loans could take 5% min on dp plus closing costs, so that could be your options too.

Hi all, 

I'm browsing my options in real estate investing, I came across REITs and Tax Liens. Does anybody have experience in this type of investments and in terms of REITs, I heard there's almost 40% tax on the dividend? and what other advantages and disadvantages on this? what's the average return on REITs? 

For Tax Liens, how can a small investor like me can purchase in NYC, or any other places? do you have any thoughts on advantages and disadvantages on tax liens?  The ad late night really made this looks so easy, but I believe there are more to it. 

thanks all

Hey Jason, 

I also live in NYC but bought a house in levittown, so soon me and fam will move to the island. Me and My wife's best friends which the contractor would do this venture together but still waiting for my primary home to close very soon. I'm looking to flip or buy and hold around the island and also open around queens area too (because I'm very familiar with queens).  My goal, i'm looking to add $3000/monthly  for me to quit my current job and do Real Estate as full time. 

How bout we link up if jv makes sense in the future. 

Frank

@Chris Mason  so can I do that with regular conventional loan? is there any restriction using regular conventional mortgage? 

I have a dilemma and need y'all experts opinion. 

I currently living in an 1br apartment which costs me $1390/month. I'm buying a 4br 1 1/2 bath single family home which now waiting for closing for $294.000 which PITI would come out around $2500/month with 5% down with FHA loan.

Originally we are going to live in it, but after reading real estate book and active in bigger pockets, I have a different idea which is to rent the house for 4 br around $2850-$3000.

I know it's not 70% rule but I didn't think we're going to do this before.

Now, my question is, if after I close around July, Can I apply another mortgage in October to buy our second home which this one we are going to live in it.   Will the bank see if my 1st home payment is being covered by my tenant? and will it effect my debt of ratio for us applying the second mortgage in short period of time because even with the first house, our debt ratio is kinda tight. 

Thanks y'all

congrats! you probably the few who took action to conquer their own fear.  All you need is just one yes!   Awesome job! 

 thank you for the explanation,  now assuming seller's property still has a mortgage owe on it. Can seller do a seller financing with that situation? and whose name on the deed? 

hi all, 

   I heard the term seller financing alot, but I know very little about how it works.  Who do you put in the deed in terms when buyer and seller agreed in seller financing? and how does seller execute when buyer stop paying the payment(s)?  Can buyer rent the property while seller financing in effect and does the buyer need seller approval due or even share the rent to seller still own the property per se? 

thank you