All Forum Posts by: Hae-Yuan Chang

Hi there guys! 

I am looking to purchase a buy and hold property that I would live in while attending school at UCF. I have tenants lined up who have lived with me the past few years. We all need to move in to a place in May. 

I am wondering where the best places to invest would be for our situation? I would like to live in Winter Park. We would not like to be under HOA or be in a busy neighborhood. I'm thinking about a a place bigger than 2000 sq. ft and a bigger backyard. I was also considering the Oviedo area and the Chuluota area.

I would like to hold this property for a long period of time. At least 5 years. Any advice would be much appreciated! 

@Account Closed

Hi there! I am not a veteran or the property is not USDA eligible!

@Russell Brazil

Thanks! I did some reading that HomeReady is for lower income houses. The house that I'm looking at I don't think I can use that type of loan.

Hi there! 

I am getting a single family rental property that I will live in for 100k. Because I have no income yet. I am having my mom as a co-borrower and she will be putting the down payment/closing costs. I will be paying her back with interest over the course of three years. 

I have been looking at FHA loans for this type of situation. But I know that some investors like to get a multi family unit with an FHA.I was wondering if there are good alternatives to FHA that I could apply for?

Thank you all!

Hi there!

I am getting an FHA loan soon and have been calling around local lenders. I was told that the interest rate will be the national rate whichever lender that I go. What criteria should I look for to choose for the best lender? Thank you!

Appreciate all the responses!

@Logan Allec That was a great, concise reply. I will definitely be working with local lenders on this investment. Thanks!

Hi everyone!

I am trying to figure out the difference, if any, from getting an FHA from a bank like Chase or a mortgage team/lender/small company? I have a good history with Chase, so I'm wondering if that would help, or if conventional banks tend to give lower interest rates than other sources? Thank you!

@Jeff B.

Thanks for the response! I will have my friend do more research on Florida laws and make sure they know the major code violations.

@Heather DeGeorge

Thanks for the response! I think the type of backyard projects they are doing involve a shed that is an illegal height and chickens that aren't far enough away from the house. I think they will consider being safe than sorry.

@Chris Romany

Thanks so much for the information! I will definitely reach out with questions about contract. 

I wanted a lower down payment to pay back my mom in less of a time. That way, I could have more income sooner.