All Forum Posts by: Lesley Govan

Congratulations Alex!! I'm still looking for my first deal! I love success stories!! Good for you and Good Luck!

Good luck and Congrats!

I'm with you Princeton! I try to do a couple a day and it really helps you have a feel for what good and whats not! Good luck!

Thanks for your comments. I have 20% down, a high credit score and cash available, I'm just trying to figure out what to do. After thinking about it with the friend thing, that really won't help me lower my expenses by living in a multi so that's not happening. 

The area I want to buy in IS expensive but I may be able to swing it with a multi family I just want to be able to save a lot of money, not just get by. I just have to find the right deal. Also, FHA is great, but the less you put down still doesn't help keep your mortgage down.

I'll keep plugging away looking and saving my money until I find the right place.

I really appreciate your opinions, thank you!

Thanks JR!

Hi,

I have been considering buying a multifamily with a friend to live in. We would live in separate units. I have a some questions.

1. The area is expensive so if we both put down 10% we can get a decent payment a month so both of our living expenses are low but if the numbers don't cash flow should I still do it? I know you can't count on appreciation but it's highly likely.

2. do we put down 20% if we are living in it or try to use as little of our own money as possible? I guess the more money down, more equity right? 

3. if you figure your numbers based on 20% down and refi out after a couple of years to take your money out, you'll be paying a higher mortgage payment because you took your money out? Right? I get confused with the refi...

Any opinions welcome! 

Thanks

Hey Jerryll!  

Congratulations! You got this!! Good Luck!

Lesley

Welcome Alex!! Congrats on your first flip!! Good luck to you!

Hi,

I need an investor friendly Realtor who understands how the numbers work when analysing properties. Some I have used say "wow your being very conservative in your numbers" because they don't understand why I'm including all expenses.

I look forward to working with someone who understands this and can find the properties I'm looking for. 

Thanks

Thanks for the response Patrick. Dummy was looking at it wrong! :)