All Forum Posts by: John G.

Johnson H., thanks. I hav spoken with a lender who's candidly told me that he's not entirely sure, and that requirements are always changing. I already own four properties, three condos, which I rent out, and my primary residence, a town home. But none of these are HomePath properties. So, when you say four properties, do you mean four financed properties, regardless of whether they're HomePath or not, or do you mean four HomePath properties?

Ralph E. and Johnson H. -- you say "only 10% down" and I want to believe that. But my understanding -- and please correct me if I"m wrong, I'm new to this -- is that that's only if the HomePath purchase is your first investment property. But for subsequent investment properties -- #s 2, 3, 4, 5, 6... -- you have to put more than 10% down. Plus you can borrow less because your LTV is lower. Yes, no, maybe?

Joe Fairless,

Can you provide some more details about your HomePath loan? I'd like to purchase a HomePath investment property with 10% down, but was told by one lender that 25% down is required. That sounds high. How were you able to secure 10% down on a second (investment) property?

Thanks,

John

Thanks, Brandon! I tip my hat to you for starting this site and have enjoyed your podcasts. All the Best,

John

Justin,

Would be great to follow up with you offline as well.

Thanks,

John Guardiano

Andres,

Thanks; will follow up offline. Sounds like you've followed a similar path. Appreciate it.

Best,

John Guardiano

John Rubino,

Thanks for your note. Definitely interested in attending your DC BP real setter investing group, thanks. I will follow up. Appreciate it.

Best,

John Guardiano

Gerald, good for you! May I ask how you secured the property? I ask because I'm new and trying to learn. It sounds like you did very well here. Impressive.

Thanks, Ned! I appreciate your response and your insight. I will check out "How to Find a Mentor." Best, John

Hello! I came across this excellent site after deciding that I wanted to begin serious investing in real estate. I own four residential properties in the Washington, D.C. area (Arlington, Virginia, to be exact), three condos and one town home, and am looking for ways to invest even further.

My problem is that, given my salary, I really can't qualify for another residential mortgage; and, even if I could, I'm not eager to tie up my money in another long-term buy-and-hold property with relatively modest and slow returns.

By the same token, though, I'm also determined not to sell any of my existing four properties, which are excellent long-term investments. (Right now, I'm doing a little better than breaking even on them, but am banking on their long-term appreciation.)

So, the idea of wholesaling, rehabbing, and flipping has deep appeal to me. That's where I want to go; that's what I want to do. But this is completely new to me! I know enough to know just how much I don't know. Conceptually, I think I understand what's involved; but the nuts-and-bolts and the nitty-gritty are foreign to me.

Looking, then, for a mentor who can help me learn the ropes, identify legal forms and systems, private lenders and buyers, et. al.

Looks like wholesaling is the best and most practicable place to begin since it doesn't require a huge upfront investment, but honestly, I'm not sure exactly where to start. Help! -:)

One thing I am doing is studying for my real estate license. In fact, I'm beginning an onsite course Monday, Jan. 13, and will take my licensing exam right after that, in March. This will give me access to the MLS and help me build up knowledge and credentials/credibility.

I need and welcome your help! Thanks for your time and assistance. I look forward to hearing from you.

V/R
John Guardiano