All Forum Posts by: Jeffrey Edwards

Try to get out there and network with as many people as possible and try to attend any local REI meetups if they are happening in your area. Focus on finding a deal and when you do, the people will come to you!

Not that I'm aware of.  If my credit was that good, I wouldn't be concerned with the small change that a hard inquiry impacts your score....but that's just me.  And yes, no Seller is going to take you or your offer seriously without a pre-approval/pre-qualificaiton (at minimum).

Welcome Ali!  You can find many resources on the forums.  If you have a question, ask away! 

Wait until the eviction moratorium is over, then proceed accordingly.  

I would always suggest short term initially.  What if you don't like it?  What if it wasn't the right fit for you?  You won't be tied to a long term lease that way (and by long term, I'm assuming more than 12 months). 

Your budget will get you into almost any surrounding Metro Detroit community.  What do you mean by "best cities/neighborhoods to invest in"?  It all depends on the deal and your criteria. 

Nice Job!

What is your projected cash flow? 

You will find your answer here:

https://www.hud.gov/program_offices/fair_housing_equal_opp/fair_housing_act_overview

I would call the local municipality and just give them the situation without giving them the actual address.  And then say something along the lines of "what would happen in this hypothetical situation" and then go from there.  Find out if permits would need to be pulled, fines, inspections, etc. 

You should reach out to a lender and ask them. There are a lot of variables in this situation. Are you going to do delayed financing or a cash-out refi? What interest rate can you get? What is the LTV ratio for each loan. Any lender should be able to answer these questions over the phone.