All Forum Posts by: Robert Lumerman

@Robert Lumerman...if the SFR is a rental you cant use a FHA loan ...you would need to use a conventional loan ....with a sfr rental - your down payment can be as low as 15% of the purchase price

Thought so. Well then that makes my options limited. Thanks for the post.

1 Vote

Hi all,

My first purchase on a single family home. Wondering which makes most sense . Do I go with the FHA and put the min. Down payment ? Or do I put 25% down? Income from the tenant would cover the mortgage if I put the 25% down. Going the other route I'd be out of pocket monthly about 900.00. Keeping more of the money in the bank could be used for another property but …….

0 Votes

Hi Guys,

thinking of investing in either Huntsville and or Birmingham. would prefer a duplex or fourplex does any one have any insight to these areas for a newbie?

Thanks

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Huntsville, Alabama

Quote from @Cesar Mendoza:

Hello Robert, I’m an inspector in El Paso. Do you still need help with the property?

Hi Cesar, thanks for the reply. What’s the next way to set this up? I’m considering a small four plex and since I live in NJ I really need a good set of eyes to see the current conditions . Can email directly if possible . [email protected]
thanks So much for getting in touch

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El Paso, Texas

Hello, Can anyone recommend a contractor or inspector to check on a fourplex I am reviewing?

the property is located east of downtown El Paso.

thanks

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El Paso, Texas

Quote from @Dan Oleary:

@Robert Lumerman, el paso is fairly strait forward. I would just be careful of the downtown area.

Thanks Dan I appreciate that. Kind of going in blind at the moment .

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El Paso, Texas

Hi Lucia, I thought it has potential for growth. I’m priced out of my area and am looking for a good starting point. Care to share why you’re leaving the area . I’m about to pull the trigger on a little four unit.

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El Paso, Texas

Quote from @Michelle Crochet:

Hi Robert! Here are some questions you can ask:

What is the current rental income and are there any existing leases?
What are the current expenses associated with the property?
Have there been any recent repairs or maintenance issues?
What is the current occupancy rate?
Are there any upcoming capital improvements needed on the property?
How long has the property been on the market and why is the seller looking to sell?
Are there any zoning or legal issues that need to be addressed?
What are the property taxes and any other associated costs?

It's important to keep in mind that not all sellers may be forthcoming with all the information you need. However, you can ask these questions and then do your own due diligence by reviewing public records and conducting your own research to make an informed decision. Hope this helps! :)

most helpful. I have one multi family I am reviewing now.

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All Forum Posts by: Robert Lumerman

Robert Lumerman has started 7 posts and replied 22 times.

Post: Demographics for research

Post: Demographics for research

Post: FHA OR 25%

Post: FHA OR 25%

Post: HUNTSVILLE & BIRMINGHAM AL

Post: someone to do a walt

Post: someone to do a walt

Post: Any thoughts on multi family property investing in El Paso

Post: Any thoughts on multi family property investing in El Paso

Post: Duplex fourplex questions to seller