All Forum Posts by: Jake Diamond

@Joshua Villafranco are you planning to live there? If so I'd go with an FHA loan. Don't be afraid to counter offer the sellers terms. Offer 5% interest and go from there. Make sure you hire a lawyer and have everything looked over before you sign.

@Dennis M. Thanks for your input. It is much appreciated !

@Nikki Albert tried that banks want 6 months of reserves and plus almost 10k in closing cost...

@Dennis M.

3 unit Monthly

$440 $640* $625 = $1,705

2 unit Monthly

$730* $690*= $1,420

I’ll know more about condition Sunday doing a walkthrough. But anything serious I’d have to find out through home inspection. But they’re in fair condition.

I have an opportunity to purchase 2 properties (One 3 unit & 1 two unit) both full rented in a low income area. Houses are side by side to each other. The owner is willing to owner finance at $90,000 for both with 5% down at 4% interest for 5 years. Houses are in fair condition obviously this would be pending home inspection given there was nothing major wrong with them. Thoughts on low income neighborhoods and what are your thoughts on this deal ??

@Adekunle Ilori I would love to. My problem is finding the right partner.

I have 20k to invest. The bank is making it hard to get another loan due to high down payments and bogus requirements... what’s the best way to invest this money?

Real estate U or NYREI ? Looking to take my 75 hour course online. Real Estate U offers the course for $99 and NYREI offers it for $395... I’m looking to take this course online only and get my license in NYS. Thanks in advance!!

House flippers, do you do the work yourselves or hire a contractor? If you hire what do you look for in contractors when hiring ?? Thanks in advance!

I am house hacking a two family home currently. I have no debt besides this house (that pays for itself) and my truck loan that is almost paid off. I have $40k in savings that I’m looking to invest to get me on the right track of becoming financially independent. Should I invest now or keep saving ?