All Forum Posts by: James Roux

Hello guys, well after a few years of lurking and getting ready to jump in. I'm ready to pick up my first duplex via an fha loan I plan to use the house hacking method. How ever I'm having a hard time finding a investor friendly real estate agent in the Orlando area. People just seem to not want to or don't know enough. Any advice? I keep looking around Orlando area I have a limited time to make a move before my lease is up. I've already gotten a pre approval if anyone has any advice or guidance or can refer me to someone I would greatly appreciate it. I'm searching in the Orlando,Kissimmee,st cloud area. Thank you guys for the help

Simply put in which way do you investigate to make sure that rent prices are what the sellers say they are when your searching for a buy and hold? I've been checking on rental websites for averages for the areas is this is an accurate way to go about it?

@Dan Oliver thanks for the reply dan but I am actually looking to live there that's why I was concerned about how decent the area was I am willing to take a temporary hit in my living standards to start investing in myself. 

just want to start out saying sorry if this is the wrong forum but I'm looking to buy my first rental here shortly but being new to the area I had question for one of the local orlando investors. I know the John young oak ridge area of orlando is a bit seedy but as a first time low cost purchase and if the numbers make sense would you consider it? What rating would you give this area a C or D or F ? Any advice would be helpful thank you in advance

@Patrick Connell I can understand the importance of a better loan option then Fha I was just really trying to minimize my out of pocket for my first buy.

I'm gonna go see a broker and see what I get approved for first question is tho there's a time line that approvals is only good for right? I'm hoping to be out of my apartment by July agust is this to far away?

oh she knew I said to her are you sure that I can't finance it with an fha I plan to to live in it I really believe she just wanted nothing to do with me

The conversation was brief about 30 seconds and she asked what area and how much I was comfortable spending. I told her the Orlando area mentioned st cloud and said I was looking for a multi family property and I wanted to do a FHA loan. She said there was a lot of competition in st cloud and said I cant buy a multi family property with a fha she said she couldn't help me that's as far as the conversation went lol? Should I be looking for a mortgage broker first? then a realtor?

Well I just started looking for a agent in the Orlando area today and the first one I spoke with told me I can't use a FHA loan to buy a multi family property? Am I missing something here Everywhere Ive read it says I can??

Hello everyone,

I've haven't been super active on these forums as far as posting. But I'm curious how bad of an idea tapping into my Ira would be for getting started with my first property? I've spent the last two years clearing all non essential debt no car payment no student loans just rent food phone utilities. I Just turned 28 and I'm getting tired of waiting im really tired of paying someone else to live. I have about 11k in the Ira and about 4k in cash. I was planning on going the fha way and house hacking. Im assuming for the price of the property closing costs Etc I'll need around 7k for a property around 130k. I've been doing some reading and I feel like I just need to start or I'll never get started. I could wait till next year and just have the cash necessary but I don't want to sign another rental lease in October could someone here give me some constructive criticism anything good or bad would be greatly appreciated.