All Forum Posts by: Jason Young

Hi there,

I was listening to a BP podcast and they mentioned that multifamily 5+ units is actually easier to deal with than anything under that. I found a few that look good. So I am looking for a way to get into commercial multifamily property.

I am good at finding deals, I have access to the MLS but I'm not sure how to find funding (I don't have a lot of liquidity) or a JV partner/Mentor that would be interested in showing me the ropes on how to buy these properties.

@Hanan K. Wow! We’re you able to get ahold of her responsible broker?

@Hanan K. Is it possible that the other home closed for more than price that the agent had previous knowledge of?

Cause anything can happen during the negotiation process.

I would ask your current buyers to change their purchase price or even request your own appraisal to use it to negotiate a higher closing price.

@Gervon Thompson invest and keep paying the low monthly school payment.

@Paul Welden appreciate it! I’ll let you know!

@Paul Welden thank you very much!

@Jason Young I should add, the lenders I normally work with don’t deal with the 203k so I’m looking to network some that do and can provide me some insight or even other options.

Looking at this loan as possibility because it has lower interest rates, low down payment and the ability to renovate.

My wife and I are interested in purchasing a live-in (at least one year) rental property that needs a little fixing up. It's close by where already live and the repairs needed are mostly cosmetic and one of the structures needs to be converted by permit to be live-able and another needs a wall for it to break into a 4-plex as right now, as it's technically a 2-plex with a workshop). It already gets $1850-2200 per unit and has two rented out up until the end of June.

I've never looked at what it would take to get a FHA 203k loan as this is our first and I'm wondering how I can do this?

My wife has income as well and while our credit isn't good yet we'd be able to bring in a co-borrower (family or friend) with perfect credit. How can we make this work?