All Forum Posts by: Nick P.

@Andrew Freed

You mentioned you find it tough to bring your equity up from 3.5% to 20% in order to go from FHA to conventional in order to refinance. Correct me if I'm wrong, but if you put 3.5% down, isnt the goal to add equity through your rehab when it's time to refinance? So waiting for appreciation without rehab would be almost pointless (as the brrrrr method states).

@Luciano A.

Luciano, so if the market becomes distressed at some point, it is even more important that I buy it right? 75% of ARV should be good enough?

@Ralph DiBugnara

Ralph, I am ready to move on and change careers. I'm very interested in BRRRR'ing / househacking.

@Stuart Hoffman

Thank you!

@Joe Splitrock

You said you can't have more than one tenant (duplex scenario) in order to obtain owner occupied FHA loan? So an owner occupied triplex or fourplex wouldn't have an approved FHA loan?

@Andrew Freed

Gotcha. Is it because you bought the property at market price / no or little repairs?

@Rick Albert

You said you need to refinance to get out of the current FHA loan in order to proceed into the next one? As is the case when you BRRRR? Just want to make sure that's what you meant.

@Rick Albert

Thank you for the reply!!!!

For house hacking through an FHA loan, and as per some of the pro video workshops I viewed, you can restart a house hack after just one year (not two years)? I live in NJ and want to make sure of this going forward as I set my goals. Thanks for any replies.

@Nick Velez

Thanks Nick. My friend will message you.