All Forum Posts by: Jerell Edmonds

Hey BP family . I have a question on rent . Do you guys send reminders the day before rent is due ?

Thank you for your input ! 

Hey everyone ! I've been seeing a lot about DSCR loans . Would that be beneficial to use to get a second property with ?! do have a decent amount saved up in my stock portfolio that I want to sell to maybe acquire a second investment property but I'd like 4-6 unit would it be the right time now or take it slow and build up to that? Just curious on everyone's thoughts seems like an interesting route to go

Yes thank you for that . That’s what I’m planning on doing should be out by next year 

Thank you for verifying ! 

I have a question a friend of mine that owns some property said it’s going to be harder for me to get a four unit next because I acquired a duplex first is this true ? 

lol thank you! I’m excited to start this process can’t wait for the next one! 

Thank you ! Can’t wait to get my next one ! 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $370,000
Cash invested: $2,500

I'm thrilled to share that I recently purchased a multi-family property with a down payment of just $2,500, thanks to an FHA loan, alongside a generous $17,500 grant from Rhode Island. Additionally, I received a $10,000 credit, further enhancing my financial position. What's more, my house appraised for more than its purchase price, adding even more value to my investment. I'm currently house hacking .

What made you interested in investing in this type of deal?

What piqued my interest in this deal was how conveniently located everything was to me. With a grocery store within walking distance, easy access to the highway and train station, a nearby Home Depot, and ongoing renovations and new developments in the area, it felt like a no-brainer.

How did you finance this deal?

I used FHA for this deal

Hello BP! I’m closing on a duplex I plan to live in one side and keep one of the tenants on the other side . My question is should I screen the tenants? They’re on a m2m agreement, previous owner didn’t have an issue with them or any late or missed payments ? Also what sites are best to screen tenants?