All Forum Posts by: Nick Mullins

Tristan, welcome.  I'm a lender in Bangor and also a real estate investor with 16 rental units.  I started investing 2.5 years ago. Rehab lending is not always a bad thing.  Sometimes a 203k can make sense if you're looking to live in the property or a Conventional Homepath.  I am finishing up a renovation project myself using reno financing and I'm finishing up with 25% after all expenses after using only 5% of my own funds.    Feel free to shoot me a text I'd you'd like to chat sometime.  Just find me on FB

Thanks everyone for the warm welcome. Sorry to not be as active as I want.  I just started a new career as a Mortgage Banker and I'm currently getting a stranglehold on that! I'm currently working on acquiring a 4 unit from owners that have very little equity in the property.  Any detailed advice on how to snag this without needing 25 percent or buying as a primary residence? 

Awesome Brandon I really appreciate it!

Thanks Mark and Chris! Glad to be on here picking brains

Is there a standard term on an owner finance balloon when I do have an opportunity to make a proposal like that?

Thank you for the input! Unfortunately the owner of the unit doesn't have enough equity to hold a second.. they bought FHA and made minimum mortgage payments.

Hello! My name is Nick Mullins.  I'm 26 and bought my first multi unit this March in Bangor, ME, which is where I live.  I'm hooked on the idea of people paying off my mortgages allowing me to  accumulate equity ASAP! I first heard of BP while reading Mark Ferguson's Complete Blueprint To Successful Real Estate Investing.  After being overwhelmed with all the awesome feedback and forum topics/discussion I finally was able to stumble over to the Newbie introduction page! I understand Real Estate Investing is very broad so I'll do my best to narrow down what I'm looking to do.  I am most interested in becoming educated on sound strategies and plans to invest in long term rental properties.  Also, I am aiming to supplement  the long term cash flow with a couple flips here and there once I accumulate the capital needed to do so.  I'm a newly licensed Mortgage Planner and my girlfriend is a licensed Real Estate agent in the area, so I know we have the ingredients to success!  I guess I would just say I'm looking for the award winning recipe and I need help. From what I've read in my short time on this social network and in Mark's book it looks like I've come to the right place. I look forward to making connections and entrenching myself in the Real Estate Investing market and culture! 

Hello, back in March I bought my first duplex secured by an FHA mortgage. I occupy 1 unit while the tenant pays my mortgage. The neighbor next door owns a 4plex and would like to sell it to me for a great deal. However, I don't have access to 25% down for an investment property. Does anyone have advice on how to secure financing with minimal out of pocket?