All Forum Posts by: Joshua Reed

thank you everyone I knew Me and the rest of BP wasn't crazy lol. does anyone have people in NJ mainly in the Newark - North areas that where I can afford to live

Hello everyone I am wondering did the FHA rules change? because when I asked quicken loans about a buying a 3-4 unit and living there they tell me that FHA only does 1-2 units. of course I aruged this saying since the housing market crash FHA allowed 1-4 units with only 3.5% down. now I watch Bigger pockets almost everyday trying to get started buying my first house to kick off my real estate career and now i get this info that FHA never offered 3.5% down now unless everyone on BP is lieing or Quicken loans lieing to its Potential clients can anyone help me with this?

Hello everyone im joshua i am looking to buy a home in east orange NJ or any where in that area. And if you have any questions please ask and if you search my name and check my discussion i have put up my plan on what i am trying to do. Thanks everyone. 

hello my name is Joshua Reed. How are you doin today? I am looking to by my first house that i can house hack i currently live in queens NY and I currently looking in NJ, PA , CT and up state NY. I would be looking to use FHA or FHA 203k loan. If thats something your looking to take on i am very eger to learn while also getting my hands dirty. Thanks

Ok so it seems like i should use a 203K loan. My only consern is how can i still profit from a 203K loan. When the loan is going to change due to how much the rento is going to cost. However i will be able to get the funding i would need. But isnt there a limit. Of funding i can recive. For renovations 

Does anyone know if there are any first time home buying programs that will allow me to purchase a multi-family home and that Assistance towards my down payment

Hello everyone my name is Joshua. I just did my taxes and I am getting back a nice chunck of change In march $7500. I am looking for my first property. I am looking for a small multi-family 2-4 units preferably a 4-unit i want to live in one rent out the other 3 apartment and as for my apartment i want the basement so i can get more money on the other 3 apartment. Also if the basement apartment has 2-3 bedrooms I want to get a room mate's since i will be spending most of my time staying in queens since i work there. And by me doing this i can still use FHA when I refinance, From a hard money lender. I honestly want middle class to upper middle class areas. This is because, i want to feel comfortable sending my wife to collect rent if need be. However I plan on using a rent collection software but i might not be able to right away. If it was just me I could careless. I am a welfair, section 8 and food stamp kid myself. I have looked into Paterson, Newark, Jersey City. But nothing yet. I am looking in areas 1-2 hours from queens NY. I am looking for a project mangers because I will be away from most of the time working my BS job until I become financially free. Also I am looking for a really good contractor who keeps there dead lines I know things can run over but not always. My budget will mostly be low. But i am very eger to make this happen. So if anyone knows of anywhere or of anyone that fits what I'm looking for please send me a message or send me a message if you have any way to improve on what i am trying to do. I am open to listen.
Thanks everyone  
Joshua 

thank you Adam. So have another question what is the Vacancy rate for northern New Jersey? And what what types of tennets do you get. Professionals or section 8 and if section 8 what type good section 8 or people who say yeah it's just me and next month you find out 8 other people moved?

Hello everyone I am wondering what is the avarge cost of a bathroom and Kitchen in north new Jersey 

Thanks for the response I am currently saving money. My company TWC is matches my Self-Directed IRA by $.66 for every $1 dollar I put in. My plan is to wait 30 weeks and put in $50 of saving. Plus my $4500 I get back every year and add that as well. After 30 weeks and all of those deposits I will have just under 10k. And 30 weeks will be May, 5 2017. I know thats a ways a way but the way I see it of I start looking now I will be ready to go in may.