All Forum Posts by: Gerald Williams Jr

@Paul Defngin

Gotcha!!!!! Thanks for the enlightenment!

@Paul Defngin

Thanks for the reply. I never heard of the 203B. Am I right in understanding that it's pretty much the same as a regular FHA; just a different name for it?

@Andrew Postell

Actually; I’m not at all surprised. I think the silver lining in this; is that My co-signer would be my parents and/or PARENT. I’m not interested in seeking anyone outside of them. Not for my first time at least. I definitely don’t want to put them in any negative type of position. So Before i even ask them; all my ducks would be in a row.

But I am curious. If trying for a 203k; does that change anything concerning the lender or is it pretty much the same being that it's part of the FHA?

I also feel like; with what you've explained; I should just focus on a SFH for my first go round. Then; multi units afterwards.

Thanks for the reply!!!!!!!!

@Will Fraser

Awesome man. Thank you for the advice! I really appreciate it! I’ve been racking my brain over this for a good minute!

@Will Fraser. Thanks for the quick reply. I'm going to be looking for a 3-2 bdrm SFH. For starters. Although I intend to rent the rooms to students and only students; so I'm considering multi-units but I'm not sure if I should start out that way.

My main concern is; personally not being able to meet the employment requirement. I really don’t want to wait 2yrs to get started; especially if my co-signer meets the employment requirement. Income and credit isn’t an issue; just my current length of employment.

I'm interested in applying for an FHA loan; to begin my journey into real estate investing. I was hoping to start within a6-7 month timeframe. My issue is. I won't meet the 2yr employment requirement. My question: Can I meet that requirement with a co-signer that DOES meet that specific requirement as well as the other ones that go along with it?

My brother sent me a link on them. I’m just curious if anyone has ever dealt with them.

@Scott Johnson I don’t see the problem either

@Nate Marshall sounds like he just agreed to a bad deal.....well; bad for him!!!

@Roland Paicely Thank you! I’m definitely not in this for fast money! I want to take my time and learn as much as possible! I see we’re neighbors by the way. I’m in Fayetteville.