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All Forum Posts by: Nick Brown

Nick Brown has started 4 posts and replied 31 times.

Congrats~! amazing news. Blessings indeed.

Post: 1 Property a Day Analysis

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10

Hey my fellow investors!! Hope all is well to you and family. I am trying to become more comfortable with my multifamily rental property analyzing. I know BP has tons of great tools which I have checked out but still feel insecure with my approach. I looked through the webinars and a few podcast but it can be overwhelming to sift through in order to figure which is the one that answers my question. 

Are there any specific videos or blog post I should look at that can walk be through the step by step using the calc? I am trying to do one a day in order get be more acquainted with the numbers and terms. Thank you all so much! :)

NB

looking into the same thing brother. We must link!

Post: New Member

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10

Welcome @Samuel Abraham !!! The podcast are a great way to open your mind while driving. Check them out! :)

Post: 203k Loan

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10
Originally posted by @Tara Myrick:

I'm only looking at MFUs...for clarity purposes...anything that has 1-4 doors is considered Single Family Residence...5 and up is Considered Commercial...going to look at a 4 fam tomorrow in St louis city...I am being gifted $10k by a private investor for down payment, fees and closing costs since I can't get any assistance from MO HUD programs...I've been preapproved for $140k...happy 4th...

  Is that pre-approval for a 203k??

Post: 203k Loan

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10
Originally posted by @Tara Myrick:

my broker told me that I can be gifted the down payment/fees/closing costs...just can't use any 1st time homebuyer grants...I still am using  3.5% down paymenr

 Hi Tara! What type of residence? Multi or single ? Happy 4th!

Post: 203k Loan

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10
Originally posted by @Brent Shryock:

is this on a sfr or multi?

 Hey @Brent!  Sorry for the delayed reply app was funky. I intend to do a duplex or 4-plex if I can within my budget. Thoughts?

Post: 203k Loan

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10

Hi Investors! I have a few questions on a 203k Loan. I was told by a Broker that When you need a co-signer (which I will and I can get) that you can not do a 203k Loan with 3.5% down on a owner occupied multifamily. You would in that case have to put 20% down.

In order to put 3.5% down when needing a co-signer would be on a single family only.

Any thoughts? Are there other loans I can look into? SONYMA? Would love to hear your opinions..NY located

- NB

Post: House Hacking and Offer Accepted

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10

Congrats man!! Still working on mine. I'm looking for something very similar so it made me smile to hear you success! :) good luck

Post: New member from New York

Nick BrownPosted
  • Orlando, FL
  • Posts 33
  • Votes 10

hey Craig! Welcome to BP! I am looking to do the same thing as you. I've been listening to the podcast daily and reading all the guides posted here on BP. Best of luck to you!