All Forum Posts by: Melissa Marques

 The house is in a trust and  will not go to probate

 How do i find buyers who are willing to buy and lease to purchase?

 Thank you so much for your reply. Could you explain to me what a lease option is and how to go about it that way?

 Thank you so much

It will not go through probate. There are 3 heirs and yes they agree to let me buy it. 

We probably have around 6 months

As the title implies, my grandmother recently passed away and had a reverse mortgage on the home with a debt of $400,000 house is worth at least $800,000.

Main issue is I am self-employed, and my income is really low, but my credit score good (700-770).

A large room with its own entrance and bathroom was added onto the house like the 70's which can probably be turned into an ADU. I know there are some programs encouraging this by giving grants for this due to the housing crisis. But above all, my income is the problem. Since I can rent out the ADU I know some lenders would count that 75% of potential income onto my income, but they are hard to come by.

Anyone with info, or anyone interested in investing with me on this great deal. If your experienced in creative funding, lets talk! 

Thanks!!

Melissa, 33

Hayward, CA

Hey everyone! I have the same question. 

Anyone find a good one and willing to share?

Also, how much do they charge upfront??

Hmm Well first, I do not make 18k a year. And if I find a good deal on a 2-4 unit and house hack then I’d def be able to make the payment work. Don’t you guys listen to bigger pockets podcasts?? Or any of the books? There are ways guys! Thanks anyways!

I agree with Hayward. Do you know any real estate agents in the area who are well experienced in house hacking, real estate investing and multi-family propertys?

Hey guys,

Im looking for buy a 2-4 unit property and house hack for my first time home purchase. I need a low down payment. I will be gifted the down payment up to 10%. Looking for a property between 900,000- 1.2m. Im in the bay area.

My income has been between $25,000-$30,000 between 2015-2019. In 2020, I earned about $18,000 and received unemployment due to the pandemic and getting hours reduced. Will Lenders count that awful pandemic year against me? Additionally, I have made about $18,000 this year so far and will be starting a new job in 2 weeks with a much higher payer.  

Heres my questions..

1. Will they look at 2020 income or do they have leniency for once in a lifetime pandemics?

2. Will lenders take into account that I have a much higher paying job now? (And have been in the same field for over 10 years + Recently graduated with a higher degree)

I may add more questions, but those are mymain ones right now.