All Forum Posts by: Leo Almonye

Denise in the HOUSE!!!, well kinda...DENISE JOINED BP SO SHE COULD BE IN THE HOUSEEEE!!!!

Hey gang! Thanks for taking the time to answer my question. Im thinking of pulling the trigger and buying a two-family home for 100% of the cash down. Not intending to live in it, just a pure investment of buy and hold. Being that it will be free and clear, i wont have a mortgage, but what other things do i need to consider other aside from insurance and taxes? Am i in-charged of the utilities of the home? I think i heard somewhere that the home owner pays for sewer? Is that true and what is the cost of this?. Anyways, i don't even know what else to ask but your extra info and advice will be greatly appreciated. Thank you

Greetings everyone! I will be as straight forward as i can be in the attempt to get an answer for my question. So my plans are to stack a total of $60k of which i am 6 months away from. And go into this market in Pennsylvania where duplexes with 3beds 1bath cost anywhere from $40k-$70k. I was thinking on putting down 20% on 4 or 5 homes throughout the year of 2017. My credit is decent and my job generates around 70k/year. Would i get approved on all 4 or 5 loans? or is me having too many home loans impact me negatively to qualify for extra loans? I then intend to re-invest the cash flow from the rent collected, plus another $60k from earnings saved from my jobs for the following year. Would me having all of these properties get approved me approved for future home loans or is there a limit on the amount i am allowed to have, also would i need to make more money in order qualify for more home loans?