All Forum Posts by: Johnny Lasek

Hi all,

Looking for a MFH 2-4 unit to buy and live in. I’m not doing much rehab on it, so mostly turn key, and finding one that I can cash flow when I eventually move out of the MFH into another property. I figure while I’m living there, I won’t be making cash flow, but I’ll be living there temporarily for $500 or less per month which is much better than my situation now.

Anyways, my question is about the down payment. I spoke to a lender who says I can get an FHA with 3.5% down or a conventional with 15% down only for a 2-unit.

My question: is the FHA loan only useful if I put a low down payment and keep moving out/in other MFHs year after year with and more FHAs? I think I'm only going to move in and use the FHA once. I don't plan on moving in and out utilizing the FHA loan. So in that case, is it a poor financial decision to only utilize this once, with the mortgage insurance and everything? My capital is limit FYI so that's one reason why the 3.5% is looking like a solid choice for me (now).

Hi all,

Hoping I’ve got my lingo right here. So I’m a current home owner that is looking to buy my first MFH to live in and keep as a rental in the other units. 

When it comes to buying properties to keep for the long-term cash flow as a rental, is it more wise to buy rehabable properties to do BRRR, or find an almost turnkey property and try to buy at quite below market value? If it helps- my goal is to buy 5-10 rentals in the next 5-10 years (well, that would be limiting myself and the sky is the limit, but with other life events let's just stick to that number). What method would be the best to keep the cash flowing and keep my capital churning to achieve this goal?

Hi all,

Planning to buy a MFH (2-4 units) to live in one unit and rent the other. I would live there maybe 5 years max then when moving out, rent it out fully. Current home-owner now on a conventional loan. My current residence will turn into a rental.

I spoke to a realtor about helping find me a MFH. After our convo, his first step was to basically talk to a lender. So I did (his referral). Now I’m waiting to hear back to see my numbers, what I can afford, that sorta stuff. 

In this situation, is it best to go with an fha at 3.5% down or conventional at 5% down?