All Forum Posts by: Josh Boulanger

@Bud Gaffney thanks! Yes, it would be a house hack. So if a lender is telling me I need to put down a minimum of 15%, sounds like that might just be their terms… not the “law”.

@Dave Spooner thanks!

@Michael Dumler thank you!

@Dave Spooner yes thank you - i would be living there and still heard 15% would be the minimum down.

Hi all!

I am looking to buy my first duplex and have been advised that if someone makes over approximately $80k a year, 15% would be the minimum down payment needed. (3.5% is minimum still for single family home)

I’ve called a couple lenders and heard this consistently and just wanted to gut-check this info with the BP community for certainty.

Thanks in advance for your insight!

Josh

@Ronald Allen Barney sound advice. Thank you!

@Billy Daniel appreciate the insight!

Hi all,

Couple of firsts for me: first post & looking for first property. Happy to provide more info about myself, but will cut right to the chase:

In today’s market, if you see a property listed for 4 months with 2 separate pending sales that did not go through, is it safe to say that is a red flag?

Here are some general details:

- house is in West Hartford in a great location within walking distance of Blue Back Square

- it is a duplex, but a little funky. Looks like a converted basement without a real bedroom (has small kitchen, bathroom, and large open room). All utilities grouped together. Main floor looks normal.

- technically in a flood zone so would need flood insurance. (Red flag #1?)

- property taxes are high from what i know - about $11k (red flag #2?)

- started at 350k, recently went to 320k, now at 299k…

Essentially, if the house was located anywhere else, it would not be attractive. But since it is so close to West Hartford Center and Blue Back Square it still feels like it has potential.

Looking for thoughts on why this house is not selling in today’s market.

Thanks in advance.

Josh