All Forum Posts by: Israa A.

Hey Everyone,

I'm hoping to get my real estate investing started this year by buying two buy-and-hold properties, one FHA househack and one conventional but I'm coming across some complications.

I took a year and half off to travel and wasn’t working during that time. I started a job in my field 2 months ago. I have a decade of work experience in the same industry, great credit, good income but I have an employment gap. I have three questions. 

1. A mortgage broker told me I can't get a FHA until I've been at my job for 6 months. Is that waiting period shorter for conventional loans?

2. If I get a conventional loan before, would I be ruining my chances of being eligible for a FHA or is there a way around that? I would move into the FHA property because I'd need to be an occupant for at least a year.

3. Has anyone had luck with 203k loans during the pandemic in Texas, around San Antonio? 

Please let me now if you’ve ran into this before. Thank you!

Oh my, sorry about that! I meant an FHA, I wrote the post quickly and wasn't paying attention.

Hey Everyone,

I’m hoping to get my real estate investing started this year by buying two buy-and-hold properties, one 401k househack and one conventional but I’m coming across some complications.

I took a year and half off to travel and wasn’t working during that time. I started a job in my field 2 months ago. I have a decade of Work experience in the same industry, great credit, good income but I have a gap in employment.  

A mortgage broker told me I can’t get a 401k until I’ve been at my job for 6 months. Is that waiting period shorter for conventional loans? 
If I get a conventional loan before, would I be ruining my chances at a being eligible for a 401k or is there a way around that? 

Please let me now if you’ve ran into this before. Thank you! 

Hi, Please let me know of your upcoming event!

I would love to join this group. I'm intentional in everything I do and moved to San Antonio specifically to start my real estate career. I need to buy my first small multi-family in less than 3 months. I also have been in the construction industry since 2009 and can give some perspective on that. Please message me some details about your upcoming event. Thank you -Israa

Looking forward to it. Thanks for setting this up!

 @Balaji A.: It’s a good idea but I’m not comfortable with investing remotely yet. It’s important to me to know the neighborhoods well and I think building a team while being local is probably easier but who knows what this pandemic has changed. People are meeting on Zoom anyways. 

 @Shadonna N.: I agree with you, I wouldn’t say Baltimore is recession proof either. You mentioned finding a city with income and appreciation. I’m open to other cities. Do you have any that come to mind? Thank you!

 @Aaron Bihl: Thank you for your insight, I’m a little concerned about property taxes wiping off all cash flow as they continually increase with inflation. Are they easy to contest? 

I expect that finding off market deals will be the only way to cash flow. Everything I found on the MLS was overpriced for cash flow. How do you know personally source your off market deals?
Good point about the $1500 cap rent. What would you pay for a house or unit that would fetch that kind of rent if you want to cash flow? I know this is a broad question since #bedrooms, location, condition and size affect this answer. You can qualify your answer. 

Thanks again for your reply! I really appreciate your time!