All Forum Posts by: Hunter Gibson

Do you know what the requirements are with Freddie Mac and Fannie Mae that would allow for a quick move-in timeline?

Hey Everybody,

I am looking for a lender on a small multifamily home 2-4 units in PA with a FHA or conventional loan. Also I have a few rentals.

NEED HELP/ ADVISE on the best way to buy as many homes over the next 10 years with owner occupied loans that is legal. I would apricate any help or thoughts on how I can do this. How long I have to live in a home, how soon can I buy another home.

Thanks

Hey Everybody, 

I am looking for a lender on a small multifamily home 2-4 units in PA with a FHA or conventional loan. Also I have a few rentals.

NEED HELP/ ADVISE on the best way to buy as many homes over the next 10 years with owner occupied loans that is legal. I would apricate any help or thoughts on how I can do this. How long I have to live in a home, how soon can I buy another home.

Thanks

Hey Kumar, I live in Pittsburgh PA and own a handful of rentals would love to connect 

@Sam McCormack I was thinking that would be the easiest way to go about this. He has 5 homes in a trust with other properties. So could he create an LLC then I buy the LLC off of him would that make me the owner.

If you do this do you still go through a closing attorney or title company? 

thanks for the help 

I am buying a home from an investor in Ohio and need help with the county taxes

The county the homes around 80k and I was going to buy it for around 400k how much will my taxes go up. Would it be possible to have the seller transfer the home into a LLC and then I buy the LLC from him.

This is 100% seller finance deal. Any suggestions 

Hi everybody I was wondering if you could help me. There is a home in Tampa I went UC with a wholesaler and told him I was closing it conventionally which they were fine with.

Long story short the home is a triplex and zoned as a SFH so the lender will not lend on the property forcing me not to close and the wholesaler took my EM. Even though a DSCR loan or any other loan would not lend on the property. Is there any way to get the EM back or make sure title is not aloud to give it to them.

@Ned Carey I have over 6 units and I have bought deals with out any money out of my pocket that cash flow month with cap x. Sometimes when you have been doing something for so long you forget all of the possibilities that are available.  

Hi Stuart thank you for your insight but I have to disagree with you. I walked to a handful of lenders today and they said after closing they not only do not care if there is a 2nd on the home they lend on they cannot do anything about it. 

I understand your concerns but you still have to have the funds to put the down payment down and have 3-6 months of reserves unless you are experienced. If I can get a deal to cash flow on long term rent with no money out of pocket in a great area I will buy that deal every day regardless if I am underwater  

Morby Method-

I found a duplex that the seller is willing to do the morby method with me. <> Where you get the bank to lend you 70% and the seller gives you the 30% as a 2nd so you do not come out of pocket 

Does anybody know of any banks that allow a 2nd position. The one I heard was myinvestorloan but they say at the bottom they do not allow seconds. Any advise or suggestions thanks