All Forum Posts by: Marvin Moore

Ok thanks i never thought about that

Honestly i was trying to avoid the bank big down payment, I already have 2 property under my name an im kinda stuck idk how to get a 3rd property with out the big 20percent down payment 

ok so I need help on making this deal work or even if this is a deal so basically I found someone who wants out of these property an was going to sale using a realtor but I told her I would give her 15k an take over her mortgage payments she is paying 1100month her pay off balance is 172000 with a 4.2 interest rate this arv of the property is about 22000 but i want to refinance an rent or do airbnb so im just not sure if i can refinance or is there anything eles I should do with this property? Also the property is in good shape just a lil out dated 3 bed room 2bath attached garage with a deck on the back 

Thanks for your reply 

Ok so I want to give a little back ground about my before I get into the topic I've been a home repair man since 18 I'm 30 now an I've always work for property management company so i know how it runs an  Operates I've been on 24 maintenance on call for student housing, retirement home an standard rental property now I'm getting into my own rental property's last year I brought a property for 130k fha  an an got the value up to 180k I refinance that fha to an conventional loan so now I'm looking for a 2 or 4 plex with an fha already have offers in just waiting to hear back an I'm also thinking of using my a line of credit from the first property to put down on a owner financing single family am I moving in the right direction or should I change things up plz let me know what you all think I'm working out of Norfolk va 

Only 2months now 

Thanks for the reply an that's my plan to keep looking 

I'm losing out on deals with my fha seller are perfering an conventional loan over fha I've just recently refinanced my first fha to an conventional so my lender said it's a hard sale to get another conventional so he said I should stick to an fha I'm trying to get a multi family property using fha but alot of buyers have the funds to over pay asking price also