All Forum Posts by: Hector Salas

Hello B.P community, my name is Hector. I am fairly new to Bigger Pockets, and the whole real estate business. My wife and I, are in search of our first home, in which we will house hack. We are looking at multifamily, or signal family, with ADU or potential to add ADU. Any advice in how to snach up a deal in these rough times for buyers. Thank you in advance.

Hello BP community. My wife and I, are in search for our first multifamily investment property. We will be using the house hacking strategy. We have ran the numbers on many, and have came across a few that might work. However, I was not aware of mortgage insurance on FHA loan. I am planning on only putting 3.5% down, so my mortgage insurance payment would be really high, and this brings my ROÍ down on those few potential properties to a negative. Has anybody else faced this issue. Any advice would be much appreciated. Thank you in advanced.

Hello BP community. My wife and I, are in search for our first multifamily investment property. We will be using the house hacking strategy. We have ran the numbers on many, and have came across a few that might work. However, I was not aware of mortgage insurance on FHA loan. I am planning on only putting 3.5% down, so my mortgage insurance payment would be really high, and this brings my ROÍ down on those few potential properties to a negative. Has anybody else faced this issue. Any advice would be much appreciated. Thank you in advanced.

Thank you Jess I will definitely check that out. 

Nathan, Shiva thank you guys very much for this advice. It was very helpful. 

Got it! Thanks a lot Nathan. Your great, you are very involved in the forums.

Hello PB community. I was told that by using sellers credit I can drop by down payment. I’ve been trying to research this but can’t find to much about it. What exactly is sellers credit, and how can I use it drop my down payment. How would the process look like?

Hello BP community! I have been analyzing a lot of properties that have great potential, but rents are way below market value. What steps would I need to take to raise rents to current market value, on a recently purchased property, given the property is in good condition. I am searching in Los Angeles CA, San Bernardino CA, and Riverside CA. 

Hello BP community my name is Hector. Me and my wife Dana are searching for our first multifamily investment property. I keep on coming across 3 different numbers for rent on the MLS. Actual rent, total rent, and pro forum. I know pro forum is the potential rent, but can somebody help me understand the other two. Thank you guys.

Thank you Micheal. I have a question for you. How’s does one accurately project vacancy percent. Also when unit goes vacant besides rent on that unit, what other expenses are paid with vacancy money set aside?