All Forum Posts by: Matt N.

Thanks, @Erin A. I actually listened to the audio book and it was very helpful. One lender has told me I can put down 10% on a multifamily that I am not living in (so pure investment) and interest rate is 4.5%. Have you heard anything about that? It is strange how some lenders are able to circumvent things based on how they are set up. 

And more importantly, I was hoping to get a little feedback on a strategy to gather two properties in between those FHAs. My lender said I would be able to purchase another property with 20% down in between this FHA and the next FHA I take out in 16 months no problem. I will only have the cash to do that for one property, however. Are there any specific forums with specific strategies you might be able to refer me to. I have been through a lot of the general ways to purchase with little money down. I am not interested in a partnership, and do not have equity yet on a place to do a Heloc loan.

Hi All - I am in the midst of purchasing my first multifamily (4 units). My goal is to get to 40 units in 5 years. This first purchase will be done through FHA since I will be occupying the property. I then intend on refinancing after 18 months and getting another FHA. In between that time, I am hoping to purchase another multi-family (4 unit). I would likely have the cash to put 10% down but prefer not to put 20% down to increase my portfolio. Looking for ideas on financing.

A few ideas I have heard of:

Credit Card Balance Transfers - there are credit cards that have promotional periods of zero dollar balance transfers (just pay 3% up front) and can use that to leverage money for a down payment. 

Heloc - I would need to wait 18 months until my first property has 20% equity in it to probably go this route. 

That is honestly it. I am looking for 10% down or less ideas. Preferably with lowest interest rate possible but just hoping someone can offer guidance or suggestions on what to look at. 

LOVE THE SITE @Brandon Turner & @Joshua Dorkin. It has been invaluable towards creating a foundation and moving toward my goals. That and a great real estate agent! Thanks!!

Thank you, sir. I will do some digging into those. The area/vacancies are not a problem. It is close to a major university and it is located just outside the most expensive suburb (so I feel it will begin filling up more). But I am trying to stick strictly to the numbers. The cash flow seems solid but need to inquire why this seller is trying to get rid of it if the cash flows are indeed that good. Appreciate the guidance. 

Hi All - Newbie here. I am looking at a duplex (top floor/bottom floor). Price is $85,000. Rents (or at least what they say in the posting) are $750 per floor; however, I am a little skeptical as average rents in area are $1200 for both. I am planning on being the occupant of one floor, and my goal is to pay for my mortgage and expenses completely. I want to assume I would only get $600 for the other floor, rather than the $750. I want to assume 50% expenses even though I will be living right next door and taking care of my unit myself. 

The area is in a pretty good area. Zillow has the estimate of the property at $110,000 but this property has been bought and sold 3 times in last 6 years. Foreclosed once about 6 years ago. It has been listed on the market on and off for past year. There was a pending sale and then it went back on market at same price and has been. Any thoughts? Mortgage rate is 3.8 percent. This is my first property I will be buying. I am currently shelling out $ for rent and decided enough was enough. Would love any suggestions or guidance on maybe what to check into on this property. Thanks!