All Forum Posts by: Nick Bilaniv

I'm looking to see if there are any other real estate investors in the Corvallis, Or area? Looking to make some connections and talk about the market.

1 Vote

I am a college student considering buying a 450k property using a FHA 3.5% down of 15,750. How much more should I budget for closing costs and various expenses? I don't want to get too ahead of myself and not have the budget built in to my planning. Thanks!

0 Votes

Hey Dan, great article- looks like I'm doing fairly well, one of my problems is I find myself using my cash saved to put into my Roth or various brokerages when I see a good deal on a stock I like. Any advice on how to split that up or should I only focus on saving cash? Thanks!

Originally posted by @Dan Sheeks:

Hey @Nick Bilaniv

Congrats to you for your ambition! If you are looking to connect with someone for some guidance or advice, feel free to reach out. I recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/.

0 Votes

Shouldn't I take advantage of my FHA to buy a 4plex? Don't want to waste it on something cheaper.

Originally posted by @Francis Louis Vogel Jr:

Nick,

Start with a 2 plex. You live in one unit your tenant covers the mortgage, taxes and some of the upkeep. Starting out this way you'll be able to save most of your paycheck from your first professional job. After a few years you may have enough capital to purchase a multifamily property or vacation rental.

To purchase your 2 plex you'll need a minimum 650 FICO, 25% down payment, cash reserves with a minimum 3 years of contiguous employment. This will get you the best bank rate.

Your strategy is to get into real estate ownership even if you have to live in a less than desirable area.

Currently at your young age, you're blessed with the most valuable commodity that all investors need is Time.

Good luck.

0 Votes

Hi there,

Currently a second year in university and want to buy a MFR when I graduate. currently not sure what I should be doing with my money to be prepared the best I can.

4 Votes

All Forum Posts by: Nick Bilaniv

Nick Bilaniv has started 3 posts and replied 5 times.

Post: Corvallis, Oregon investors??

Post: First potential properrt

Post: Tips for a 19 year old?

Post: Tips for a 19 year old?

Post: Tips for a 19 year old?