All Forum Posts by: Kevin Roth

At the moment I'm growing my mortgage business, educating myself, working on my live-and-flip and collecting money on a land contract I hold.  

I really wish I had some rentals.  I plan on buying another house hack within the next two years though. That is, unless I can buy another live-and-flip via driving for dollars.

How has your investing journey been?

@Montez B. Unfortunately that one fell through.  Seller changed his mind two weeks before close and decided he'd rather hold the units.  It's real disappointing.
On the bright side, though, Cason Home Loans, the mortgage brokerage that was doing the FHA loan for me ended up hiring me as a loan officer. With this change of events, I'm primarily working on continuing my education and getting good at originating mortgages before I try to secure more multifamily.

As for the Mortgage Insurance, it is what it is.  It's simply a matter of plugging it into your numbers and making sure you still cash flow and have adequate reserves.  

For FHA loans the MIP, or Mortgage Insurance Premium, is 0.85% of the loan amount per year. For instance, if you have a loan amount of $100,000 the MIP would be $850 per year. Divide that by 12 (Months) to determine how much it would be per month- $70.83

I found mine by just talking about real estate and what I was looking for to basically everyone I met and was close to.  I told them what I was looking for, and also said I would give $500 cash if they brought me a deal that I closed on.  People were bringing me leads left and right :D

@Montez Blackburn

Cason Home Loans is processing an FHA for a 4-Plex for me at the moment. They've been doing a fantastic job. They're based out of Fenton.

Just about a week ago I had the pleasure of listening to the very first Biggerpockets Podcast. It was informative, clumsy and a touch awkward in light of how smooth they are nowadays.

It was momentous for me, as fifteen months earlier, in May of 2019, I listened to my very first BP Podcast and was absolutely hooked. Wanting to learn as much as I could about real estate, and seeing the tremendous value (an understatement) of the content of these shows, I vowed to listen to every single one, from newest to oldest, to create a base of knowledge to propel myself from.

Lo and behold! 394 podcasts later I've kept my word.

The daily advice and guidance of Josh, Brandon and David was immensely helpful. Over these months, I quick-flipped a house, did three short-term private money loans, and am currently ironing out a 4-Plex house hack via an FHA loan, not mentioning the various deals that didn't play out or fell through (including a partnership for a trailer park at a tax foreclosure auction. That would've been massively fun!).

This past year has been a solid base hit. I wish it could've been a homerun, but being 26 on the outskirts of Urbandecay Michigan, I'll take it!

A huge thank you to the BiggerPockets community and to everyone who teaches and sacrifices their time and energy to help those who need it. BP has been an asset of unspeakable benefit to me. I can't wait to see what the next year holds in store!

@Albert Garcia

Hey! 's good to have you here.

I'm working around the same area myself. I don't have too much advice to offer, but a book that was crucial to my education was The Richest Man In Babylon. There's a free audiobook of it on YouTube.

Also, if you look under "events" on the BP website, you'll see there's an investor meetup right here in Saginaw. Covid has gotten in the way a bit recently, but I believe it's generally the third Thursday of every month.

Best of luck, and so hope to see you around :)

Hello all!  I'm a young, enthusiastic investor from the Flint Saginaw area of Michigan, and am in negotiations for an off market, turnkey 4-Plex about an hour from me.  The owner, who is older and owns it outright, wants $90k for his investment, and is reluctant to finance it, fearing he won't be around long enough to see the money.   He wants me to go through bank financing. $90k is an incredible price for the Quad, but, with bank financing wanting 25% down ($22.5k), closing costs and having money in reserves, it would unfortunately consume all the capital I have.

Being young and of still limited capital, I naturally want the highest and best use of my cash.  I have the opportunity to House Hack another 4-Plex in my home down (which I'm also pursuing) and "wholetail" with my father, both of which wouldn't consume all I have.

I respect this man's time, and I don't want to leave him hanging.  But, in the same breath, I don't want to pass up the opportunity to create steady wealth and a strong future for my family.  Is there a creative way I can get into this deal?  What would you do if you were in my shoes?

I appreciate your time for reading this and helping me out.  Best of luck to all of you :)