All Forum Posts by: Natali Cobb

@Stefanie Gouvis

I think I know exactly which one you're talking about, I would love to see it actually. Sending you a DM. Thanks!

@Stefanie Gouvis

Hey Stefanie! Are you an agent in the area? I work FT in Ballston Spa, so trying to stay in Saratoga or Albany county if possible. Those are the exact issues I've been running into, I thought I was just missing something. There are very little to no MF properties for sale, the ones that are are in less than desirable areas and need major TLC before they can really be lived in. I've been watching the ones in Mechanicville, but as you said they're rather high in price for what you get. The rent in this area, as you said, is also low and inconsistent from what I can find. Taxes are also high in all of the more densely populated areas around, yes. Finding it hard to unearth anything that might cashflow consistently! 

@Derek Brickley

That's super helpful, I'm going to do some more research into the self-sufficiency tests in relation to my market. I've not heard of many conventional loans for 5% down, are these hard to obtain? Thanks!

 Great information, thank you!

Hi all,

Can I use a FHA loan on a small multifamily (2-4 units), as long as I live in one of the units for at least 12 months? Are there any other major stipulations to consider? Any tips to get qualified for this type of loan?

Great information, I'll definitely look into it! Thank you for the help!

Hey Chris! This is great advice, I appreciate it. Looking to join my local REIA soon and hopefully meet some experienced and insightful people.

I do have enough now for a decent down payment, hoping to wait about another year (when my lease ends) to buy, give me some time to do more research and save some more, to be open to a broader price range and opportunities thereof. I have been in touch with a few agents, no lenders as of yet. I am interested in it, but haven't done enough research on the topic just yet. Would love any thoughts or advice you have!

 Thank you for the advice, Simon!

Thank you for the advice!

I am about 20 miles north of Albany NY, which is a fairly small city comparatively (population about 98,000). I have looked at many properties on the MLS and follow it daily, I just ran my first one with the Rental Property Calculator, which only further confirmed I have much to learn!