All Forum Posts by: Joe Aquilina

@Jaron Walling

Great insight! Thank you Jaron.

I will definitely keep that in mind and will for sure live below “standards”.

I’m young, I’m only 18 but I want to get started with investing into multi-families.

One of my main concerns is the loan, I don’t have any knowledge on loans. I have a few questions, so please if you know anything about these loans and the terms of them please reply.

- do you need a credit score ? If so what’s the typical range you recommend..

- Is this loan going to be the amount of the unit I choose? As like if I were to be buying it..

- what’s the recommended % I put down on the loan?

Thank you for your time.

@Craig Curelop

Thank you for those podcasts! And yes I would be looking into a multi family so I can rent one out or maybe even both and generate some extra income..

@Barry Pekin

Man Barry, that was an amazing response filled with a whole lotta knowledge for me! Thank you so much. I will work on getting into those groups as well as attending those meetings.. do you recommend I bring business cards and introduce myself?

@Craig Curelop

Awesome! Thank you Craig. I will most definitely check those out. Currently listen to podcasts on Apple Podcasts... do you know any good podcasts for that? Also, does the 3% down apply to the FHA loan? Or would that be separate? And one more thing, when you have cash in reserves (like 10k) as you said, is that used for the property? Or is it used for when there is no tenant? Or both?

Once again thank you Craig for your response and your time!

@Scott Mac

Wow! Thank you so much! I won’t rush it and I will learn as much as I can before. What education link are you talking about?

I don’t know much on how to be a landlord nor do I know much upon loans. I will be studying for quite some time!

Once again thank you Scott. I truly appreciate your time.

@Evan Polaski

Thank you for the advice Evan! I am working towards this as we speak and will continue too. I replied to a previous comment. If you don’t mind checking it out and giving me some insight on that one as well that would be great.

@Scott Mac

Hello Scott! Thank you so much for your response and your time. Great advice, and I will 100% work towards getting everything you said together.

The house that I have took note of is a two family home. It’s upper and lower. Two beds and one bath. As well as completely remodeled. House is 2048 sq.ft. The price is 239.9k. Monthly estimate is 1221/mo.

What do you believe I should do next...?

I'm young and want to start my life, I'm a forex trader and have been aspiring to become a REI. I've studied a lot over the past few years, but don't know where to start with a house hack. Any insight in any degree will be a great help! Thank you..

@Don Konipol

Thank you for your response, how do you know when it’s the right deal? Do you base that off of margins?