All Forum Posts by: Christopher Montoya

Hello BP members! Has anyone had the experience of purchasing their first or their next property through the Florida housing approved lenders for grants and or second mortgages? Any advice?

Me and my wife will be purchasing our first home together later this year. We have enough reserves in the bank to do a Conventional 97 loan with 3% down. Our problem is we are looking to possibly qualify for a grant in order to help us pay for closing costs. Main reason is we would be thin on our reserves if we had to pay for it all and we have our first child that was born in December, so we have a few expenses coming up with daycare etc.

Any advice would be great! Thanks.

Good morning Stephen! I appreciate the reply. I would love to meet up for some coffee and discuss a couple of things I had I'm mind and ask you some questions. I'll message you my contact info.

Hello fellow members!

I am currently planning to buy my first home with FHA loan. Just wanted to know if there is anyone living in Sarasota, or Venice, FL. I moved to this area almost a year ago, so I am still getting used to the city. Anything would be great!

Hello investors,

I need some advice on my first steps to take. I want to invest in a multifamily home. I am planning on purchasing my first home by September of this year. 

What I want to know is, what are a few things that I should be doing other than looking up homes online and applying for an FHA?

I've called a few banks and lenders to see what I can get for when purchasing the house. But what they tell me is that since I'm looking to buy it near September, that I should apply in May or June so that they don't run my credit so much. Which makes sense but then how would I be able to make an offer on a home if I were to find one without knowing how much I qualify for through the FHA? I would need to know what houses I can and can't afford right?

@John Kesner

Bigger multifamily properties are exactly what I would want. The question that I have though is how/what bank can help give me the loan I need to get a house in the 150k price range with my full time job yearly income (under 30k a year)?

@James C.

What I meant is that with my full time job i currently have, I am not making enough yearly income to qualify for a loan to help purchase a home for more than 70k-80k. I need advice on how I can make a bank give me the funds i need to purchase more expensive houses. I'm sure 4 family buildings are more expensive than 70k

Hello guys,

I am planning on house hacking as my first investment. Ideally I would want to invest in house that is roughly in the 200k range in Sarasota, FL. I applied for an FHA loan through Wells Fargo since I've had a checking account with them for years. However, the banker told me because of my yearly income, I will only be able to afford houses under 100k. I have been listening to podcasts as well as reading and researching as much as possible. From what I understand, I can try to apply at other banks or somewhere else that might be able to help me more. However, I was also thinking about maybe teaming up with another investor but I don't know how that works. Any advice or info?

Hello everyone! My name is Christopher Montoya and I am new to BP. I am an aspiring entrepreneur and I decided that real estate is what will get me to where I want to be in my life. As I was doing research online, I came across this website and I loved everything about it. So I made an account so that I can get the best possible resources and advice to help me succeed and achieve my goal to becoming a great real estate investor. I need advice for starting my first investment. I am stuck between investing in an apartment complex or a multifamily house.