All Forum Posts by: Michael Acheampong

My brother has a duplex that he's willing to sell, he's moving out of state and willing to hand it over but I already own a SFR ( house hacking with 2 roommates) and in order to get that it has to be in investment property with 25-30% down.

I don’t have that money laying around.

I’m currently a student and a Nurse at the Same time I’m thinking about borrowing student loans as a down payment for the property. It’s in a great place and can at least generate $500/ month after everything is paid off.

Selling for $200k and house is worth $230k

Is there a way around this. Where can I get the money there isn’t enough time and he’s trying to sell ASAP.

Please help with any suggestions.

No Heloc my house was purchased last month.

@Karen O. Would lenders rig appraisals just so they finance you a loan? I know appraisals are done by third parties but the lenders sees it first before the buyer.

I haven’t made any offers yet or down payments we are good there.

@Hai Loc he’s one of those realtors that pushes u to buy a home just so he gets a paycheck.

@Richard Bonisa I will. Have inspections coming on this Tuesday.

Can I reduce the price due to the fact that it needs a paint job?

@Russell Brazil the property was never on the market.

Thanks for your input.

I'm in the process of buying a home (house hacking SFR).I made an offer contingent on walkthrough and inspection, the seller was out of town so I made the offer with the goal of seeing the house when the seller gets back.

I offered the full price and seller is paying realtor fees.

I got a chance to see the house and it’s a house that I’m interested in but I feel like it’s worth less than what I offered by at least $5-$10k.

I had been searching for a while and didn’t want to miss out on that one so I offered full price which looking back I don’t think it was smart to do.

Can I make another offer after walking through with a reduced price? my realtor don’t think it’s a good idea since we already offered full price and tbh he’s all about making his money so I don’t really take a lot of what he says into consideration.

Or should I wait till appraisal comes back and decide the actual value of the home.

Can lenders potentially rig appraisals to get u to buy a home even though appraisals are done by third party organizations?

It needs some paint work can I offer reduced price based on that? Or should I wait till appraisal gets back?

Thanks for taking your time to answer my question.

@Tj Hines didn’t know anything like that existed. Signed up for a meeting this Thursday.

Thanks :)

@Greg Dickerson I’m only 21 and really scared. But thank u for the advice.

Will start working on.

I’m in a good place financially to make it happen but the fear of the unknown has been my greatest obstacle so far.

@Michael Acheampong

It’s really hard to find any properties. They sell before they even land on Zillow or Craigslist.

Been searching for two months now but no luck.

Can’t find any good duplexes for house hacking.

I’m around Akron/canton OH.

At the moment I’m planing on building one.

Is it a good idea to build a duplex.

Akron now have a tax abatement program where you build and don’t have to pay taxes for 15 years.

Pros and cons of building a duplex.

Thanks!