All Forum Posts by: Account Closed

@Gilbert Dominguez thank you for the good idea  with the credit report, Gilbert. I'm going to do that. 

@Brandon Stevens thank for taking the time to post. This hits home for me, because the literal mountain of info there is to ingest and avenue to get there. Just do it and stop the analysis Paralysis.  Should I add 3 more % because of closing costs? Thanks again  

@Kurt K. Sounds like a good next step, thanks ! 

@Account Closed thanks for info Nick, even a rough estimate from a lender would help in my planning. 

Hello I'm still several months away from purchasing my first investment property to house hack and using a FHA loan. Is it wise to find out now how much a lender will be willing to loan to me, so I could plan on type of multifamly, location I could get etc or wait till I'm much closer to be in position to buy. I'm worried about credited score taking a hit with such inquiries as well. Thanks

Jared 

@GregSzymbor yes it does help. Initially I think this might be the best route for me ,is the house hack and FHA loan. On later properties I would like to achieve allot lower ltv. So for my target money goal, should I plan 3.5% and add 3 more % for covering costs ? Thank you again.

Jared 

Hello everyone 

I just finished the ultimate beginners guide and thought my business plan would be next step to pave the way to my investment goals, but have a question in the criteria portion 

Criteria - asked to define Ltv. Which I know is loan to value, from what I understand the lower the better to avoid pmi and highest interest rates. however just starting out I would believe my Ltv would be no less than 75% because I want to attain multi family units less than 5, so I would need 25 % down, using a bank loan. I'm getting confused on number I'm trying to explain I want or if my thinking is accurate. 

My background if you haven't noticed is very new, so I appreciate your feedback and patience ahead of time.

Thanks again 

Jared 

@Juan Cristales thank you for taking the time to post. I'm going to take your advice and start on the podcasts, along with finishing the ultimate guide. I would have to say there is no get rich guru in my future. It seems real estate is a marathone not a sprint, besides I enjoy the challenges thus far and don't want to skimp on steps.  Thank you again Juan ! 

Jared 

@Greg /Szymbor yes it helped very much thank you. When asking quotes for insurance and lenders, is there some kind of fees associated ? Thanks again

@RyanRubel , congrats on your purchase! No haven't been through all the beginners guide, but I'm off work now so plan on reading more when done posting. It seemed slim Pickens in our area for multiplexes, just by my little experience thus far. I appreciate the post. Thank you