All Forum Posts by: Michael Belmore

@Erik Smalls

Hi Erik, 

Tough to say given the situation but the tax lien might hinder you getting a bank loan. 

I would look hard money with a possible blanket mortgage situation. 

Good luck 

- Mike 

@Tim Sipowicz

Great good luck, if you did end up starting with a single family/duplex there are exceptions to the rule. 

@Tim Sipowicz

As a general rule of thumb while house hacking using FHA they want you to either decrease your family size of stay the same. So if you are looking to increase your units, I would recommend starting with a 4 family and staying the same or head down from there.

Good luck 

- Mike 

@Rohan Gangar

Properties that fit the 2% rule are extremely rare. 

I use the 1% rule to save time and filter out the over priced properties. 

It helps you work smarter not harder. Also if you are  working with an agent tell them about the 1% rule so they dont spam you with junk that will never work on the numbers. 

- Mike 

@Jay Levy

Wow thats crazy, thanks for sharing. 

@Ping W.

Hi Ping, I would stick with whatever tenant screening guidelines you established in the beginning with no exceptions. 

Good luck

- Mike 

@Maryann L.

This is great, will this part of warren ave be in Brocktons downtown revitalization plan?

@Damon Marshall

Theres no right answer to this. It will all depend on lender specifics and on what type of mortgage. 

@Roger Martin

This is awesome thanks for sharing. How long did Reno take and where did the find the property? - Mike 

@Lacy Green

No problem! yeah its a great way to get units at a nice steady pace.