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All Forum Posts by: Mateo Gomez

Mateo Gomez has started 1 posts and replied 2 times.

First-Time Home Buyer

Post: Stretch Budget or Keep Money in Reserves

Mateo GomezPosted
  • Portland
  • Posts 2
  • Votes 3

Hi Derek,

If I were you, I would get into the B class property and force appreciation through rehabs while completing your required 1 year of residence for the owner occupied loan. You will also have much more peace of mind having reserves on hand should anything go awry. Additionally, forced appreciation is reliable, while market conditions are not (at least in the short term). 

Spending less on the property will also allow you to quickly save for another house hack so in 1-2 years you could move into another one and repeat the process!

2 Votes
Knoxville, Tennessee
Real Estate Deal Analysis & Advice

Post: First Deal - SFH in Salt Lake City

Mateo GomezPosted
  • Portland
  • Posts 2
  • Votes 3

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $310,000
Cash invested: $40,000

3/2 SFH in Salt Lake City, self managed. Plan to renovate and hold long term. Also considering fully furnishing and doing travel nurse housing due to proximity to Hospital.

1 Vote