All Forum Posts by: Redgy Saint-Germain

@Daniel Rongo

Welcome to BP

@Account Closed

Ive used " Joomla" in the past for other websites its been pretty good to me and best of all its OpenSource (free). 

Once you have your contents its pretty easy to get around

@Johnoson Crutchfield

Why not use an FHA with 3.5% down for a 4 units? Thats a minimal investment, you can live for free in one of the units and produce some massive cashflow. You can always refi after 6 months to a year

@Charles Salumn

Welcome, Wilmington DE and Elsmere DE are really nice. My sister lives in that area, check them out 

@Caleb Anderson

You can have only one at a time until you refinance. You can still get one under your name because they will allow your father to " gift" you the downpayment to buy the property. Just ensure you have your income stuff situated. 

The only draw back is that you have to live in the property for a while, so it will not cashflow until you move out based on the FHA guidelines. I would look at a 2-4 units for an FHA that way you can live rent free and still cashflow

@Tyson Hosey

Yea its an alternative, it should be easy to get a secure credit card, they can start it with one month of rent to make it easy then usually after 6months to a year the bank would return the money to them 

@Caleb Anderson

Yea if your ARV is shy of 200k the deal would be interesting because you can make money while buying the deal.

Also why 20% why not use an FHA loan and only use 3.5% down then invest the 16.5% to buy another property ?

@Aaron Misiph 

1- You dont need 50k to buy this property, is you go the FHA route you can put down 14k and still win the property.

2- Can you make any repairs to increase the value of the property and increase the rent?

I honestly don't think this is a good deal because you are cutting it too close. I aim for 250$/per door cashflow after all expenses

@Caleb Anderson

Whats the ARV? Rentometer is accurate at least for me. You can also look online for Section 8 fair market rent that would give you a pretty good idea.