All Forum Posts by: Joshua Biondi

Mike Cumbie thank you! I really appreciate the advice!!

Robert Ellis I was recently approved for a $165,000 FHA loan which includes 10% allotted for repairs based on purchase price. I have a few friends who operate sober houses who have been helpful in guiding me through operating procedures. I'm actually very familiar with the house of hope, a good friend of mine is the Programs Director there. However, my plan is to purchase a duplex as a traditional buyer, and rent out the other side to up to four individuals in recovery, based on a contractual agreement that they will adhere to the rules set in place. I plan to calculate the investment cost at a point that even renting to a single family would produce some cash flow. The potential for greater cash flow with a sober house lies in the fact that standard rent is $100 a week per bed. I want to make sure to cover my bases either way to ensure the purchase is a good investment.

Hello everyone! I have enough saved for a down payment and I was recently pre approved for an FHA loan of $165,000, which includes 10% for repairs based on purchase price. I'm meeting with my uncle's realtor for the first time today. She wants me to speak to another lender who may be able to offer me better terms than the bank that I recently spoke with. My uncle has been very successful in real estate, and his realtor has been a friend of the family for 30 years, so I don't think that she'll steer me wrong. My question is, is there anything that I should definitely ask her during our first meeting? I've been learning all I can everyday, but this is all new territory for me. I appreciate any help! Thanks in advance!

Mark Nolan thank you!! I'm really happy that I stumbled across BP! It has already been a tremendous help in the short time that I've known about it.

Justin Taber thank you!! I really appreciate that!

Thanks Adam Fansler !!! I'm planning on operating a sober house out of the other side of the duplex, so I'm thinking possibly towards the Hilltop area or on the outskirts of Old Towne East. I realize the potential headaches that come with operating a sober house, but I have many connections within the recovery community here in Columbus, and there is potential for a much greater cash flow.

John Mathewson thank you, I really appreciate that! I'm forward to networking and meeting people on here!

Etienne Manning thank you!

Thank you! I was hoping to find a local meetup soon. I'm definitely going to attend. I really appreciate the info!

Sharon Seiter thanks for the welcome! So far I'm amazed out how helpful BP has been as a whole! I listen to their podcasts daily and I'm currently reading The Beginners Guide to Real Estate Investing. The forum is excellent as well! Good luck with your endeavors this year! I look forward to interacting in the future.