All Forum Posts by: Justin Lee

@Vincent Crane

Can you explain more about the BRRR? Like is the 40k for rehab as well? Can't you take out an 203 FHA which includes a loan for rehab?

@Mark Gallagher

Sorry, so if i apply for an FHA loan, will they disapprove me if i am currently already living in an apartment?

@Vincent Crane i might have to push back my start date and save more. But i was thinking about purchasing a property in the $80,000-$120,000 range, and try to make about $500 profit. What price range are you looking into?

@Mark Gallagher if i apply for an FHA loan and i'm still on my current lease, will they let me stay and live in the property i own to be approved for the loan?

@Chanel Oldham are you living in one of the units? I have about $6,000 to invest in a property and want to apply for an FHA loan, but i read that you have to live in the property

@Mark Gallagher I'm actually still in the process of saving money, $6,000 is the most I can save by the date I want to start, but I would like it if we keep in touch on here. I am learning a lot from you. Also, is it common for seller's to cover closing costs? The seller is losing money, so is there a catch?

@Account Closed oh interesting. Do you live in those properties you own? I read that you have to live in the property for an FHA loan, also how did you apply for multiple FHA loans, i read you can apply for one at a time after a year

@Mark Gallagher thanks Mark! What is seller's assist and i would need more for closings costs right?

@Account Closed hey did you finance through a private investor?

@Jeffrey Giffin thanks for the info! Just quickly, what would you do with $6,000? I know it's not a lot, but it's the most i can save and i already pay rent and don't make enough to pay a second rent if i moved into a unit in a building i purchase to rent out