All Forum Posts by: Nicole P.

I’m going back and reading my initial post. Sorry if there was any confusion! I meant to add that I was approved for a conventional loan with a 3% down payment. Not 3% interest.

@Erik W. Thanks. I will definitely check because when the lender told me what I qualified for I thought I hit the jackpot!

@Anthony Dooley Thanks. These are all helpful suggestions. I was hoping to start with a duplex so I could house hack but maybe I should start with a single family because I could still do that with the extra rooms in the home. I need to study up on investing with my IRA. I have an IRA, but I don't think it's the kind I can invest with, I need to find an accountant and talk to them about my options.

I was thinking it sounded too good to be true also. I initially wanted to look into an FHA loan, then they told me I pre-qualified for the conventional at 3% and I thought that sounded better. :) I’ll look at my options once I hear back from the lender. Either way, I’ll be living in it. This is my first purchase of a home for myself so I’m new to the whole loan situation. Thanks for your advice.

I just got this quote last Friday. I plan to live on the property whether it’s a single or multi family. My intentions were to house hack. I’d prefer multi family to do that but I could do that with a single family if I had to considering it’s just me and my two dogs.

Hey there. I’m in the process of getting approved for a loan to buy my first property. I was really hoping to buy a small multi-family property to start with. I was talking to my lender about options today and they told me I would have to put down 20% for a multi-family property. I’ve got great credit so I did get approved for a conventional loan at 3% but that limits me from a multi family property from what I understand. I definitely don’t have 20% saved for a down payment. I wanted to see what kind of experiences y’all have had with getting loans for this type of property and if you’ve had luck with getting loans that require less than 20%. Thanks in advance!

Thanks Logan.

I’m looking for recommendations for a small business/real estate attorney and CPA. they don’t have to specifically specialize in real estate. I’m asking for a small business I have, but it would be great if they have experience with real estate in case I want to use them for that as well in the future. Thanks!

I have yet to purchase my first RE investment and I have been looking at different financing options, along with still educating myself in other areas.

What are your thoughts on using funds from your IRA to finance a RE investment?

What is your experience with this type of financing and would you recommend it? TIA

HI Alex,

Thanks so much for the reply. I'm curious, are you accepting cash only for the property you have for sale in 77477 zip area? I'll have to check it out. 

I'm new to all this, so I'm still learning. I started reading up on investing a year ago which led me to this site and to get my license. I got busy with that and have gotten back on this site ready to educate myself more and get back into it. 

Hi there! Can anyone suggest a great source for finding multi-family properties for sale in the Houston Texas area besides HAR? Specifically duplexes and/or quadriplexes? Is foreclosurehouston.com the best source for finding properties at a lower price? Thanks in advance for your help!