All Forum Posts by: Jordan Buie

@Upen Patel What are Fannie loans?

Hey guys, thank you for your responses. So if I were to go from owning one-single family residence to multiple properties, would I have to go through a portfolio lender for that?

So, let's say I own a property worth $300,000 in one city that cash flows decently, but in another city, two hours away (where I moved from), properties are much less expensive per quality and cash flow like crazy. Is it possible to sell the $300,000 house and instead qualify for the loan and use the equity to buy 6 or more $40,000 homes all with one deal and one lender and in a 1031 exchange?

Thanks, Reed! I definitely believe there is an incredible opportunity in the situation stated, even if one were to not sell the house. I think finding a secure route not too complicated for a beginner--in my case--would be crucial. Response appreciated.

Hello brilliant investing minds,

I have an interesting scenario for you. Say you have a home that you are given free and clear that is paid off and is valued around $100,000. But here is the catch. You are given this home by a relative, and the relative wants to continue living in the home. What is the safest way to tap into the equity of the home for a secure, relatively liquid investment in which the relative's housing is not put at risk and where an equity loan could easily be paid off and the house be sold if necessary? Note: I assume that in the case of a home equity loan the ROI would have to regularly exceed interest payments.

Hello everyone,

Does anyone have any tips for someone starting out in real estate about the best ways to find a good accountant to help you structure your investments and a good real estate attorney? Also, does anyone have estimates of how much one could expect both professionals to charge for helping someone set up a real estate investment in which the investor plans to purchase a home, live in it and rent out the rooms?

@Michael Anderson

 Thanks, I'll take a look. Keep me informed also if you know of any duplexes.

Hey Zach, I'm talking an agent now. Trying to figure out the best way to go. Mainly, I'm trying to purchase a property that meets my criteria, and CASHFLOWS!. And Nashville is booming, but I think prices are reaching their peak and finding deals in the right neighborhoods is difficult, but still a million people are being predicted to move to the city in 10 years.

I'm in the process of trying to find this out. From what I have heard, finding a motivated seller, having the financing ready and being ready to jump seems to be one approach. I guess one way of looking at "undervalued" is a seller who needs to sell at a price that is at a market value of some homes nearby, while comps show there are also several similar nearby houses that are selling for more. So, I guess, a motivated seller in a transitional market. Like I said, I'm just learning and looking. :)

Hey guys, I am looking at purchasing my first owner-occupied investment in Nashville, Tenn.-a booming market. I have a good about of credit, and I am looking at doing an FHA loan with 3.5 percent down and a fixed 30-year APR at 4 percent and under. I'm hoping to find a property that is at least 10 percent undervalued, ideally a duplex, where I can sign renters on a year-long lease immediately, so that in one year I can move into another similar property and show the year's rental income as payment for the property's mortgage so I can buy another property in a year. Do any of you have any tips, suggestions or comments about my strategy? Do you see any flaws, or is this a great, time-tested plan?