All Forum Posts by: O'Licia Parker-Smith

 Hi Jordan, thanks for letting me know --especially since you're in the area.

Hi Robin,

Total understand it's hard to say without a full financial picture, so I appreciate you sharing your perspective as a lender in the area. My interest rate was 3% in 2021 which was on the low end back then, and my finances and credit standing have only improved since. I'm not expecting a 3 or 4% rate now, but I'm hoping to be on the low end of the range again this time.

Hi everyone,

New to the forums and going through the lender approval process for a multifamily (aiming for a quadplex). This will be my second home purchase, but it'll be owner-occupied. I'm getting FHA interest rates in the mid to high 6% as of now. I know interest rates are dropping slightly, and I heard that multi-family properties tend to have higher interest rates compared to single families.

Curious to know, is 6.625% a high, average or low interest rate for a quadplex in this current market? Thanks in advance!

Hi Jacob,

Congrats on graduating! My perspective is different than requested since I'm only a bit further down the road, but it is equally helpful since I was feeling that sense of overwhelm not too long ago.

Suggestions:

1) Save with the right bank. Get a high-interest savings account so your money can grow faster with no effort on your part. Wealthfront and Ally bank are good options, but its worth searching NerdWallet for their suggestions at the moment.

2) Determine what your goals are as you continue learning about different areas of real estate. Once I knew my goals (i.e. cash flow vs appreciation, time freedom, supplementary income, etc.) the area of real estate I wanted to start with seemed clearer.

3.) House-hacking if residential is your plan. I got started this way and have learned a ton about property management, contractors, taxes, etc. To a degree, you learn the tenant's experience because you also live there. You learn valuable soft skills as an investor managing the property and when things break. Plus, doing this as a young person recently out of school is a more ideal time to have roommates :)

You got this!