All Forum Posts by: Jay Sechowicz

@Chaz Reid @Larry Fried @Maria Alfante 

Thanks for the welcome guys I look forward to learning from you all

Jay

Hello everyone,

I am 25 years old and am new to BP as of last week. Since joining I have been glued to the forums and this is BY FAR the best source of info I have come across In all my readings throughout the years. I have been interested in REI since high school and think I am ready to make my first purchase. My plan has always been to start w a duplex and live in one and rent the other.

I want to know if anyone that has started down this path and what they have experienced. Suggestions, ideas, strategies, what to look for and any other info anyone can offer will be greatly appreciated. I look forward to hear what other people who have actually walked the walk have to say about this particular strategy.

Also, financing is something I am still new at. I could def use some advice on the best options I have in a situation like this.

Thanks,

Jay

As far as strategies go I think I have a pretty good grasp on the concepts. When it comes to financing I'm still a newbie. I know the 203k allows u to borrow extra money to cover repairs but could you just explain a little more how that works and how you plan to refinance?

Thanks @Kyle Gregg  

I'll look into the calculator I'm sure it will be helpful.  Once you move into the property how long do you plan on staying. 

Also a question for someone, I have considered trying to get my potential duplex paid off as quickly as possible. (Less than 5 years) using rent money and my own income so that the property will become all profit. This will be helpful buying properties in the future but I don't know if it is worth it or not. Just an idea

Hello everyone,

I am 25 years old and am new to BP as of last week. Since joining I have been glued to the forums and this is BY FAR the best source of info I have come across In all my readings throughout the years. I have been interested in REI since high school and think I am ready to make my first purchase. My plan has always been to start w a duplex and live in one and rent the other.

     I want to know if anyone that has started down this path and what they have experienced. Suggestions, ideas, strategies,  what to looks for and any other info anyone can offer will he greatly appreciated. I look forward to hear what other people who have actually walked the walk have to say about this particular strategy.

Thanks,

Jay