All Forum Posts by: Jerry Padilla

Welcome to bigger pockets Corey! Thank you and your wife for serving our country! You definitely have the advantage of a well deserved VA loan. Starting with a multi-family purchase is a great way to go!

Hi Seth,

Welcome to bigger pockets! Do you have tax returns with any claimed income? If you don't have any way of proving any income, private financing maybe the only way to go. Do you have anyone that would want to partner up with you that has stated income and do this as a partnership?

Martin,

Welcome to bigger pockets! You seem like you are doing your due diligence and you have some great ideas! A multi family owner occupied is a great way to start with little out of pocket expenses.

Did this really happen or a scam?

You can list on Zillow.com for free and so many people search Zillow.com for houses. You won't get on the mls for this website though.

The 3.5 percent down is a requirement. When negotiating a deal closing costs could be asked to be paid for by the seller.

hi I am a loan officer from Rochester, but do a lot of business with clients in the Buffalo/Niagara area.

FHA/USDA/VA - I am able to go down to a credit score of 600!

Conventional - I am able to go down to a credit score of 620.

If your credit score is below these numbers and you are motivated I have a guide available to assist each individual (free of charge) to increase their credit to a level that they are able to get approved.

@ Katy Consor
It depends on what your income taxes show for the single family you own. We wouldn't have to count your rent if you were to purchase a multi-family or a single family as that would no longer be a bill of yours.

I would take it and run with it. Although if you accept a check, I would suggest waiting the full five day period for the check to clear before allowing him to move into the property.