All Forum Posts by: Saberian Younger

A year ago the rules were investment mortgages 1-4 were 20% SFH 25% MFH, mortgages 5-10 were 25% SFH and 30%MFH with liquidity requirements as I stated above. Now I believe mortgages 1-10 are 15% down only. Excluding what has been mentioned above if you'll be living in the property.

Liquidity is not required until mortgages 5-10 as far as I know. 

Small world, I have an ex from Soquel... it's a wonderful little city. I used to travel there often while in college. Sounds like you've got similar aspirations to myself. Cheers!

While researching this promise zone I found this.  http://news4sanantonio.com/news/trouble-shooters/promise-zone-san-antonio

For mortgages 2-4 it's 20% down for single family and 25% down for multifamily. Mortgages 5-6 are 25% single family 30% multifamily plus some liquidity requirements. First mortgage the down payment requirements are much lower. I believe even as low as 3-5%. 

Guy Walsh I've used lease runner for several years now and my experience has always been good. IMO they seem very good at the rent collection and screening part but not super strong when it comes to their accounting software or the leases they offer. So I use them for those two things. Also, whenever I've come across any issues their customer service has always been spot on and receptive to my needs. It's a little expensive at $3/month per transaction of rent payment. Some the tenants pay but I always offer to pay it.

Get pre-qualified first. That way you at least know what exactly you can afford. 

I've been paying my guy $25/hour and doing everything I can to teach him along the way. I'd rather create a fellow investor than a $25/hour guy. He's worth much more but that's what I have to offer right now. Then I'd like to do what @Anthony Dadlani described when I start doing more flips. I'm currently just doing buy and holds and my thought is, is that this project manager position will be overseeing 25-50 houses in the next 10 years so I'd better train him/her well... 

Citi cash back card. It pays me 2% on everything. For my spending it is around $1500/year free money. I don't travel much so this is my card of choice. 

@Leland Barrow Im in the middle of a double house renovation in Seguin walking distance to downtown. Have you or anyone you know about the permit process thru the city. Just getting bids I hear a lot of the contractors grumbling.