All Forum Posts by: Matthew Hamilton

Josh Autery Ben Wilkins thanks for the reply! I've read about pmi becoming permanent for fha and think that my refinance would have to be to conventional - but I'll have to double check that with my mortgage broker. Hypothetically though if I refinance to conventional and drop my PMI what your saying Is dependent on the interest rate my total can end up being more still? Refinancing is something I need to educate myself more about, still not sure I fully understand it. Thanks guys

I am looking to house hack to get started in real estate! This duplex I'm looking at would only cash flow about 68$ once I move out including cap ex, repairs, vacancy and prop management. I would be doing the management myself so 68 is really 268 but I want to cash flow without having that in question as many have suggested. Doing an FHA loan how long would it take me to get my PMI off the loan? At 150k purchase I'm looking at 125ish for pmi which would put me at 193$ /month without saving management fees once I'm free of PMI . Is this reasonable to "assume" I can drop the PMI and it would make this property worth the investment? Thanks !!

Logan Allec thank you very much! I agree this is kind of scary to not know of..

Logan Allec exactly! Said she's been doing it for a long time and never heard of such a thing.. so now I'm confused haha

Was talking to my mortgage lender and mentioned my strategy of staying owner occupied for 1 year and 1 day like I've read on here before and she's never heard of this as a "rule" or anything that complies with HUD. Can somebody explain this to me? On the plus side I got pre-approved for a good amount! Thanks in advance

Thank you Rolanda Eldridge ! Appreciate the encouragement

@Ian R. thanks again, you've been more than helpful. I obviously have to choose what I want in the end! If I could start househack and get a property within the next 6 months or so I feel like this goal would workout.! then once I have that property maybe I try to save until I can make the jump to another career. We will see.. ive been looking at properties and jobs everyday! I'm committed to making the jump into investing or another job, I guess its whatever comes first and meets my goals! appreciate the responses, really I do!

Thanks Ian Rosado sorry I didn't clarify a better timeline, the goal is within the next 2-3 years! In addition to reaching out to property managements and top agents both here and in SC do you think me finding a diff w2 that supplement my current income is okay? My thoughts right now are: try to network with top agents/property management companies to see the steps I could take in order to be a part of their team. In addition to that, could give two hoots about my benefits and pension and mainly concerned with taking home what I do now.. 1100 every 2 weeks with 10+hours driving each week. Thoughts?

@Brad Larsen thank you for sharing your thoughts on how great property management is!! I will definitely be reaching out to a few property management companies in SC to see maybe what they think I should do in the mean time so if and when I move down there they would accept me on their team!! This makes total sense to me.

@Ian R. where to start.. I cant thank you enough for your kind words, its truly awesome I appreciate your time, thoughts and effort in this post for a total stranger you don't even know. You hit the nail on the head, I have NO debt, no cc, car payment or anything (recently paid off my car this year) Currently have around 10k in the bank that I could fall back on. do you think that buying a duplex or triplex to house hack while I have a w2 now could be beneficial? wow, what a great story with your wife, if I was half, heck even a third as successful in my first year as an agent id be thrilled. But like you said, I CAN do it. I will be reaching out to top agents in SC and here to hear their thoughts. I'm not even close to satisfied at this job, its miserable and terrible for family life. Live like I committed a crime for 30 years..no thank you. Again guys thanks for everything!!

Charles Parrish Exactly, it's almost like I'm the one who did something wrong and now I have to spend 30 years in jail with two days off a week!! Jeff Hite could you reflect back to your first year ? Did you make enough to pay your bills? Brad Larsen thanks for the encouragement ! A major change is on the horizon!! Any advice on how I could get into property management also? Thanks guys