All Forum Posts by: Justin Pera

When obtaining a multi-family 3-4 unit with an FHA loan, all units rents, to include the one you'll be living in, must be multiplied by .75% and cannot be less than your total monthly mortgage payment. If it does not exceed your monthly mortgage payment, it will not pass FHAs self sufficiency test.

Are you seeking this with an FHA loan or plan to put 25% down with a conventional loan?

Is this a true multi family? You mentioned townhome.

Thank you for your insight Raymond. I wouldn't be able to hit the 25% down without an investor, so FHA initially?

As far the as units are concerned, they're 4 conjoined townhomes, not part of a bigger community. Could be considered a fourplex? They're new construction build on one lot. I can DM you the plans if interested, I could be completely mistaken here.

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I’m looking at a 4 unit townhome in Tampa, Fl. Total cost is 800-900k. My income is 110-150 a year. Downpayment 50k.

How does projected rent work into a mortgage loan for a property like this? I would live in one and rent the other 3.

I believe the other 3 units can rent for up to 2,400 each.

Is this deal attainable with my current situation or am I in over my head.

Thanks in advance,

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For those investors with multiple units with many mortgages. How do you hedge your risk incase of another market crash?

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Originally posted by @Stewart Vargas-Sosa:

Hey Vee, I started learning about investing relatively recently as well, and while I haven't done my first deal yet, I would say that a website and LLC is definitely not a necessary pre-req to getting started. That is, you do not HAVE to have these in place to begin.

In fact, I would argue that creating an LLC from the get-go might be more of an impediment than anything because of the fees associated with its creation and maintenance, not to mention that it makes obtaining financing much more difficult than if the property were in your name alone. While an LLC does offer personal asset protection, there are other ways to cover yourself as well, such as an umbrella policy.

As for the website, I think it depends on your business strategy, but again, this is something that could be added as you go.

Great advice! Thanks Stewart

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That's incredible, congrats! I am from Jacksonville living in Tampa, my family is still back there and I really think they have a good market for investing. Best of luck to you!

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Thank you everyone for the kind words! Wish you all the best.

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Hi everyone,

I am new to real esate, thought I have always wanted to get into it. I have read and listened to a lot but I have yet to take that next step. I'm excited to network with you all and hopefully land a deal in 2017!

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All Forum Posts by: Justin Pera

Justin Pera has started 3 posts and replied 7 times.

Post: How can I make this deal happen?

Post: How can I make this deal happen?

Post: How do you protect yourself against another 2008?

Post: Do I need a Website, and S-corp or LLC to start buying houses???

Post: One Year Later - 10 units and full time investor

Post: New member from Tampa, Fl area

Post: New member from Tampa, Fl area