All Forum Posts by: Josh McGuire

TBD Approval it is! Appreciate the educated response. I have had several lenders give conflicting answers but this one clears it up as much as possible. Certainty is currency. Love it. Will definitely be running it through formal underwriting before attempting to move forward. Thanks again @Chris Mason

Fellow BP Colleagues,

I have owned one SFR in Indianapolis, IN for roughly 6 years. I purchased via FHA but moved to Los Angeles, CA roughly three years later. Since then I have been renting out that property to some great tenants (I know i'm lucky and extremely grateful!). I've been renting apartments and houses in Los Angeles since I moved and am finally close to having enough capital for a downpayment on a home out here. I've received several conflicting answers from lenders regarding the possibility of purchasing a home here in CA using FHA, since I still own the rental in Indiana that was purchased under an FHA mortgage. Anyone out there have some insight into if this is a possibility for me? Or any advice in general?

Thanks in advance! 

I work for a developer who is looking to purchase some land in Southern California. We are attempting to find the rate of appreciation for commercial land but have not been able to come up with anything. Any of my fellow BP members have any insight into this concept? Thanks in advance!

Aaron you and I have very similar strategies. 

I am from Indianapolis, IN so I have been back and forth about purchasing a SFR or Multi (house-hack) for here in LA (i'm currently renting DTLA) vs. purchasing several properties back in Indy (being that I know the market well and currently own one SFR that is cash flowing and appreciating at a steady pace). I'm currently leaning towards Option 1 with a conventional 5% but I haven't spoken with any lenders yet either (interested to know the answer to FHA w/ MIP vs Conv). I can't shake this feeling of throwing money down the drain every month on rent but if it makes sense to go with Option 2, I will happily go that route as well.

Good luck and hope to see you become super successful in the months/years to come! Oh and welcome to BP!

@Jason Carter great recommendation! Just finished the LA season today. Really interesting stuff. Thanks again! 

Nice to meet you Brian! I'm from Indianapolis IN but moved to Highland Park (renting) last year. I love that area. A little too hot for me to purchase but I'll be looking in the next few years as well. Good luck with everything and feel free to reach out if you ever want to meetup! 

William are you only looking to purchase in Illinois?