All Forum Posts by: Kristopher Werner

@Justin Rank I’ll definitely step up my driving for dollars game and I’ll check that site out too. Thanks for all the info!

@Charlie MacPherson thanks for the response and the detail. I think the part that’s making me nervous is that I feel like this upward trend isn’t sustainable. I just have to remind myself that 2008 was a completely different beast and the next downturn should be easier to ride through than that.

@Justin Rank thanks for the response. It totally make sense. I know I'm the type of person that gets "analysis paralysis" which is why I'm fearful of a market downturn. In order to find a deal, I've spent a lot of my time first listening to BP, I took the real estate salesperson class, read a number of books, articles and anything else I can consume to first learn the how first and decide what type of investing I want to do (buy and holds). I've met numerous agents and brokers along the way trying to find the right properties. I just can't seem to connect with the right people or anyone that's has the same excitement around this space that I do. Things hit the MLS and i think is somewhat of a deal is gone in hours or I'm getting blown away with cash offers that I can't compete with. Any suggestions on better places to look?

I'm just getting started in REI. Before I realized this is what I wanted to do, my wife and I lived in a condo that we rented. To save some money for our first investment, a multifamily we'd house hack, we decided to move in with family. We've been grinding for over a year now trying to find something that we feel comfortable living in and will cash flow when we move out and we simply can't find anything. I live in a really hot market (Boston) which is making it even more difficult. We're at our breaking point and need to do something, but I can't justify buying a single family home due to a crash we know is inevitable in the next few years and there simply aren't any multi family's in my area that fit our criteria. We're to the point of strongly considering renting an apartment until we either find a good multi or see what the markets going to do. Is this crazy? Am I crazy? Has anyone done this? I honestly would rather rent at this point then buy a bad deal and then have the market crash on top of it.

Thank you both so much @Ana Coello and @Matthew Porcaro! Very helpful. 

@Matthew Porcaro how is an FHA 203k loan different than a regular FHA? I've never heard of that.

Hi BP!

This is my first post, hoping for some help from the community! I'm making the leap into Real Estate investment and have started talking to lenders to find the best fit for my first investment, a multi-family that I can house hack. After talking to two lenders I've realized, I don't really know what questions I should be asking. I'm leaning towards FHA for the low down payment but other than "how much?" and "am I approved?" I'm not really sure what to ask. Hoping for some suggestions from some investors that have been through it. I just want to make sure I'm not missing anything obvious or if there are any not so obvious things I should be aware of. Thanks for you help! Kris