All Forum Posts by: Jereck Galloway

Getting ready to purchase 1st duplex house hack, just wondering if anyone had good experiences with certain banks on FHA Loans and any bank recommendations?

Ill tell you what someone told me because I was in the exact same dilemma that you are in, you want to preserve your cash as much as you can so that means you wanna go with the FHA loan, low down payment route and house hack a multi fam or single fam. if you are a first time home buyer you can also utilize your local first time home buyer programs and they will give you a solid amount for help with the down payment. by coming as little out of pocket with a house hack you can rinse and repeat next year because you still have cash in the bank from the low down payment. if you want to see a professional response to this question go look at my forum and the replies I received.

@Michael Haas thank you so much! Great detail on you’re advice and I learned a lot, I would love to catch up sometime and get a coffee!

@Brian Gerlach thank you so much for the advice. I decided that I’ll go back to work and put 20% on a multi fam to house hack in my area.

@Mariam Dao my research led me to Jacksonville FL aswell and I have 30k cash I’m working with if you’re looking to partner on a deal

My grandmother had just passed and left me 30k. I've studied REI since I was a senior in HS and know the basics of REI. for the moment I am unemployed because I had to take care of her until her passing and now I am debating on how I should invest. the Seattle area is very expensive and 30k won't go far with cash so I would have to get a loan and go back to being a pool boy to house hack or BRRRR in my local area but I really hate working for other people. my 2nd option is to look out of state and find something i can purchase with 30k cash and the get hard money for rehabbing. im really stuck and don't want to throw away my Grandmothers legacy so I would really appreciate any advice on what you would do in my situation, thank you all!