All Forum Posts by: Murali P.

I recently signed a contract on the purchase of a condo unit in downtown Chicago. It was listed as FHA approved building. It was going to be our second home with our daughter living there. Applied for mortgage, since it was FHA & being second home, we got a very good rate (3.25%) but it turns out it is not eligible for FHA since the builder has rented out more units than the FHA allows. No one knew about this. I can get a portfolio loan but my concern is whether there would be any drawbacks when I look to sell the unit later? If it is not FHA eligible, then is my option only to sell to another investor? Just trying to understand the negatives or am I being overly concerned for nothing... I have the option to pull out of the contract if I choose to, based on this. Advice greatly appreciated. Thanks in advance.

Thanks to everyone who responded to my post, appreciate it.

I am looking at trust deed investing through companies like The Norris Group (in CA) and Arixa Capital (also in CA). Anyone here already doing this with them or through other reputable companies and what has been your experience, good & bad..... Thanks.

Thanks for the reply, it was very helpful.... Murali

I am looking at a property in the E Central Park Ave / Brady St neighborhood of Davenport, IA. This is a single family home, buy and hold for long term rental purposes. Mainly interested in knowing if this is a safe area for families.... in general terms is it a good neighborhood to buy? I am from St. Louis and so no knowledge of the Davenport market.

Hi everyone,

New to real estate investing, signed up with BP as a PRO couple of weeks ago so that I can use all the features. I am from St. Louis and looking to mainly buy Single Family & Duplex type rental properties in 'A', 'B', and maybe 'C' areas of St. Louis metro. I am looking for investor friendly real estate agent and also a good contractor to help me with estimates and repair work as needed. Any help is greatly appreciated.

Thanks,

Murali  

Hi everyone,

I am new to BP as well as real estate investing. I am looking to buy/invest primarily rental properties in the St. Louis metro area. When is the next meet up? Thanks, Murali