All Forum Posts by: Robert Fullum

The applicants who balk at a $35/person background check are probably people you don't want as tenants. There are ways to make it seem like less of a barrier. 

Often the landlord or broker will charge the application fee and the background check fee just to apply for the apartment. Instead, don't charge the fee unless the applicants are the ones you've decided on based on their applications. 

This way, you're up front that there will be a background check. Yet, they don't feel like they're paying for a background check when they might not even be first in line for the place. They know they're only paying for the check if they're probably going to get the place.

Also, some jobs require background checks. You could waive the fee if someone can provide an official background check like teachers providing theirs from the department of education, etc.

It looks like next week i'm working the early shift, so i'm free most afternoons/evenings. Or the weekend. Friday is no good, though. The week after that my schedules start getting more difficult to work around.

@Jasmine W. Is there a creative way you could help your friend avoid the short sale and take over the property? I don't know the ins and outs of short sales. But, if a short sale will hurt your friend's credit and you'll have to compete with everyone else looking at the MLS, it might be worth the effort to see if the two of you could find a mutually beneficial alternative.

@Darren Sager Thanks for the Meetup info. Fingers crossed my work schedule that week is conducive to the meetup.

Welcome @Jordan Low! I lived in Portland, OR for 9 years, love the PacNW, and hope to invest in properties out there myself. 

@Andrew Powell-Sampellegrini I checked out your profile and seem to have some things in common. I'm nearby in Astoria and i'm deep into the research phase of looking to invest, probably away from the NYC area. 

Perhaps we should put together our own meetup for NYC investors who are in similar positions, or have gone through it already? 

Thanks for all the great input. From what you're all saying, it seems like my idea is feasible so long as i'm not too liberal with where i spend my time. 

I'm less concerned about my job because right now most work is done remotely, and fully intend on replacing this job with more location independent work. 

I appreciate the help!

I've been digging through searches and docs online and i can't find a straightforward answer. I'm trying to determine what constitutes a Primary Residence for an FHA. Most things merely say something to the effect of "live in a majority of the year." Simple enough.

On a base level the math is easy. Half the year is: 365/2 = 182.5 -- 183 days is a majority. I can split my time between two locations if i spend 183 days in the FHA property.

My wife is a teacher. Suppose we wanted to spend her summer vacation traveling, say, 6 weeks. Are those 42 days traveling applicable to my primary location? Do i just have to put in more days in my primary than my secondary, regardless of the number?

The reason i ask is because i would love to buy a 4 unit in Portland, OR using an FHA as my first property. But, also spend time in NYC where our families are. I also want to travel more. Trying to figure out exactly how much time i need to be physically present so as not to commit fraud or lose the loan.

Excellent! I have recently done so too!

This looks great. Too bad i'm on the other side of the country. I'm a native NYer living in NYC again, but i lived in Portland from 2005 to 2014 and think getting my first investment in PDX might be better than trying to do so in NYC. 

Hope this meetup is fun and productive, and i hope to interact on BP with all of you in the future!