All Forum Posts by: Senad Salihovic

Ill make you a website and hosting for 3years for $500 :) 

hey everybody 

I am buying my first investment property soon. I found a great deal a couple streets down from my house. It just came on the market a couple days ago. 

I am wanting to buy it and rent it to my mom and brother(they currently live with me and pay rent) they will pay less than what they are paying me now. 

Here is my situation. I don't have the full down payment yet, I do but its cash at home that I would have to wait 3 months if I put it in the bank. 

I have 6k in my bank account that I can use, I need another 5k i was going to wait 2 months untill I dave that 5k. But this house just came up and it's everyrhing I bern looking for and the numbers look great. 

I no this house won't last 2 months. I need to come up with 5k fast sow I can buy it. 

I have 60k equity in my current home I was wondering If I should use some of it as down payment. 

If I take out 5k from home equity would I be able to use it right away or would I have to put it in the bank and wait 2 to 3 months?

Please help:) 

Any other ideas are more than welcome. 

I am thinking about doing the same, 

I will only need 12k for down payment on a property I found, I have 6k cash and would like to get 6k from home equity. 

I have 50k in equity. 

Would I be able to use it instanly or would I have to wait 3 months? 

Ok guys here is my situation. I bought my house 2 years ago, my mom and brother moved in with me about 7 months ago.

I am looking to buy another house very soon, I am wanting to buy a house and put my mother in it and get her on section 8, 

I need someone to pre approve me for a loan between $45,000 to $65,000 

and help me with the section 8 process.

I can provide more info in privet message.

Any tips or advise would be greatly appreciated 

Congrats,:)

 Yes i have savings, and retirement savings, not fan of 401k at all, but I do have a couple of 401ks from previews employers nothing much maybe 4k total 

My mom and brother live with me right now, I plan on renting them my first property, we have talked and discussed this plenty of times, my mother is old fashioned, pays cash for everything, no credit  at all. My brother is young and still in school, 

We are a tight family, and they are on board with my decisions. 

I'm in louisville Ky are, its a very similar market here depending on the area you buy in. I am I have an appointment friday with a mortgage bank, not a bad idea, 

Thank you, I'll send you a connect request.

 If I only have to come up with 5k that won't be a big problem, I was told I need al least 25% or 30% of the property that just didn't sound right to me sow I had to ask on here:)

 credit is ok 750 area all around on all 3