All Forum Posts by: Mark Costa

Hello,

I wanted to get some advice on potential financing options. Currently, I have two prequalification letters. One is the standard 25% down on an investment property, the other is what looks to be a second home mortgage with 20% down. Has anyone heard of issues with the second home mortgage not passing underwriting because the investment property is too close to the primary residence? I am trying to conserve cash because 

I have the chance to purchase two properties within the next few months and so I am inclined to go with the 20% down. I just want to make sure that I do not move forward on a deal only to have the financing fall through.

TYIA,

Mark

@Will Chamberlin and @Brian Barfoot , I caught that. I'll see you tonight. @James Wheelock , I'll try to make that meeting as well.

Thanks for the words of encouragement. I am not afraid of hard work, just of working hard for little returns.

I've been on a reading tear lately, I'll check out the store to see what I should tackle next.

Hello BP members. I've been putting off posting introduction because the love of writing has been thoroughly drummed out of me. I decided it was time to get past that aversion and introduce myself because I heard there was a BP meetup in the Syracuse area tonight.  Hopefully, someone's keyword alert will pick up my post and they will let me know where the meeting is.

In terms of real estate investing, my wife and I are looking into multifamily homes under a buy and hold strategy. I've spent the past few years working on my Ph.D. (no love for that title on BP) and have decided that trading time for money writing papers is not a desirable long-term career play for me. So, it's time to start generating passive income and move towards financial independence.

In terms of where I'm at in the process, I've read a bunch of starting material, including the UBG (thanks for the resource) and am going through the podcasts.  We're getting ready to purchase our first property but Inventory is kind of tight, so I suspect it will be some time before we close a deal.

I'm looking forward to getting involved in this community and stealing taking advantage of everyone's knowledge.  Thanks for sharing.

Cheers,

Mark