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All Forum Posts by: Mark Erickson

Mark Erickson has started 2 posts and replied 8 times.

@Aaron K. Thank you Aaron. Does this still hold true for HUD homes?
Any thoughts on using a 203k v. a conventional mortgage for a HUD. I am in a position to do either. With cash in the bank for rehab or just finance rehabilitation... I hear that a conventional offer is more competitive? Thoughts Thanks all
@Matt Nusbaum Thanks Matt
@Will Gaston Thank Will for the link. That is actually really helpful... because in my area I could buy closer to the university where students can walk to school (not likely in winter months anyway) or was leaning toward purchasing something just across the river. That’s the downtown area as you described. Really appreciate your help
@Andrew Syrios Thank you
@Sam Shueh Thank you for the input. What do you mean by “forget the vacancies in the summer”. All of the current rentals for students in the area are on 12 month leases and accepting applications already for 2019/2020
@Kyle Mitchell Thank you for the response Kyle. I’ll add those numbers to the equation. Appreciate your time
Hey Everybody. I’m looking to purchase my first investment property soon. Finally saved enough to do so. The area that I am targeting is primarily student housing right near a university. The thing is. It seems too good to be true (which usually means it is... right?) I’m seeing 1-2% rule applied pretty easily (some approaching 3%). For example, just went and saw a 2 unit place. Listed for 129... would rent as is, but needs some work, for at least 2100$. Others in the area are similar... some turn key...wIth room to expand... any advice for a newbie? I don’t want to let my cold feet as a fIrst tIme buyer prevent me from jumping In What am I missing.