All Forum Posts by: J. Broham

I am in process of buying my first property. After looking at my market and budget, it seems I have two option at the moment:

Buying a SHF and rehabbing to build equity ?

Or buying a Muti-Family and gaining rental income ?

—

Which is better if you are trying to begin in Real Estate ( I will be house hacking) ?

Could you please share your thoughts and potential strategies ?

Thanks

-J

@Hadar Orkibi about to PM - looking for a list of contractors in Central Arkansas.

@Cory Cox Thanks ! Did you use a 203k on one of your properties. If you did, would love to hear your experience.

Can anyone provide me with a list of lenders that do 203k loans in Centreal Arkansas ( Little Rock, North Little Rock). 

Thanks !

-J

@Anthony G Thanks. I don’t know if each lender has their own rules or is it a strict government guide line.

Talk with two potential 203k lenders yesterday - need help clarifying some things.

One lender told me I can not use a 203k loan on a multi-family unit, however they can use an reg. FHA.

Another lender told me I can not use a 401k down payment for a 203k loan.

Are they both true ?

Need advice from a lender that does these type of loan.

Thanks !

-J

Talk with two potential 203k lenders yesterday - need help clarifying some things.

One lender told me I can not use a 203k loan on a multi-family unit, however they can use an reg. FHA.

Another lender told me I can not use a 401k down payment for a 203k loan.

Are they both true ?

Need advice from a lender that does these type of loan.

Thanks !

-J

Hello, 

I am new this site. 

I am looking at a property that the seller is willing to do financing - however the property need a lot of work. Is is possible and/or smart to buy the home through the seller financing and then get a 203k Rehab Loan to get the repairs ? How could I structure this to work ? 

Thanks for any advice

-J