All Forum Posts by: Garry McMichael

BP Community! 

So I am in the midst of searching for my first real estate investment and plan to use an FHA loan to put as low as 3.5% down to house hack- I would like to know your opinions on the following financing options for down payment and closing costs:

1. Taking a significant amount out of my IRA for the down payment

     - I know that i am able to withdraw up to 10k without being hit with the withdrawal penalty, but would like to see if anyone has been down this route. 

2. Using a 0.0% APR for 15 months credit card towards closing costs.

- I am trying to utilize as many financing options as possible so I do not deplete my cash reserves. 

I would be more than appreciative for any responses or advice. Thank you and I welcome any responses!

Garry McMichael 

@Bob Okenwa Thank you for reaching out. I know that there are a lot of those basic search tools and have used them before. 

I am trying to see if there are any other unique avenues to take. I am thinking about direct marketing or doing more dirty work and finding my counties' records and just contacting people. 

I wish the best of luck to you on your real estate investing journey.

Good Evening BP World,

I am currently looking for my first deal - multi family that I can house hack. I am set up with a real estate agent and receive MLS notifications which come in sparingly, but I want to utilize more tools out there.

What are good recommendations that you could give a newbie? Any advice on this topic or advice on starting out would be very appreciated. 

I look forward to your responses.

Garry McMichael 

@Wayne Brooks I was to believe that HUD properties are cheaper than regular listings. Correct me if I am wrong though.

I basically am trying to search all avenues to find leads and great deals. 

Good Evening All,

I am a newbie and trying to purchase my first rental property - searching for a duplex to house hack. Does anyone know if the HUD typically list duplex properties for sale? I would like to try to purchase a HUD duplex.

Any advice would be appreciated. Thanks. 

Garry McMichael 

@Chris Anderson

Thank you for the insightful advice. I am totally aware that I must provide some sort of value in return, because as much as mentors want to help, they also have their agenda as well. 

My goal is to network as much as possible, with as many people to try to eventually team up with a mentor and hopefully provide some value in return. 

In my opinion, there is no harm to reach out to anyone and everyone. You never know what one contact can do for you. 

Thank you again for the advice. 

@Martin Potter. 

I would definetly be interested in learning more about the events in the Philadelphia area. If you could provide any details in regards to those events, that would be very appreciated. 

Thanks a lot! 

Garry McMichael 

Good Evening All,

I am trying to find local real estate events in the Tri State area (PA, NJ, DE) and my ultimate goal is to find a mentor to help me along my real estate journey.

Would anyone have good advice on finding a good mentor? 

Thanks.

Garry McMichael 

Good Afternoon BP Fam,

So I am looking to view my first property soon and would really appreciate any advice that you would have to ask the realtor as well as things to look for while viewing the property. 

Any advice would be great. Thank you. 

Garry McMichael 

Good Evening All,

I am looking to purchase my first rental property, but have been advised to find a mentor along the way. 

Are there any great tips, forums, or advice that anyone can give to find a good mentor to help me along my real estate journey?

Thanks

Garry McMichael