All Forum Posts by: Jenny Duclair

@Account Closed this is precisely the route I would take if my credit score were up to their standards and I had capital for the required 'skin in the game'. I don't know if there's a different type of HML but I had concluded I need different strategy.

I have two properties (a duplex and SFH) a family member is offering at deep discount, he needs to short sale. They are in Miami & I'm in WPB so, too far away for me to use VA or FHA as an owner occupant. Neither my credit score nor cash on hand will let me get in with a private lender. I'm thinking wholesaling is the only option remaining but I don't know where to start with that and frankly I am focused on acquiring my first duplex and hacking into landlording. I got my prequal letter in hand and I'm sending out offers so I don't think I have the time to start a whole new gig such as wholesaling. How can I make use of this opportunity?

I asked my realtor for comps for a multiunit I plan to owner occupy, buying with VA loan, and he said I dont need to worry about the value of the 4plex when the rents are more than enough to pay the mortgage. That doesnt feel right. He works hand in hand with a lender who rightfully only cares about getting paid. But would the two of them push to get me into a property that is ultimately a bad deal? I may be paranoid but this is my first property purchase ever.

I asked my realtor for comps for a multiunit I plan to owner occupy, buying with VA loan, and he said I dont need to worry about the value of the 4plex when the rents are more than enough to pay the mortgage. That doesnt feel right. He works hand in hand with a lender who rightfully only cares about getting paid. But would the two of them push to get me into a property that is ultimately a bad deal? I may be paranoid but this is my first property purchase ever.

I don't have a lot of REI investing experience yet but as an up an coming Real Estate Attorney, I can tell you that our offices are insanely busy in December. It's the last chance for some favorable tax treatment that some with larger incomes may need.