All Forum Posts by: Senia E Cuevas

@Gaetano Ciambriello Thank you! We are waiting for her retirement to kick in to have her apply on her own. I will DM you. 

@Stephanie P. Thanks for your reply. I do not like shady things - specially as I start with real estate. At this point, I will either buy for her as an investment or find a home she can afford... I do see real estate as an income vehicle for a 67 year old that was not able to build on her retirement. I'd be happy to plant the seed for her. 

@Brad Hammond Thank you so much! That is the right question to ask!  Thank you for getting me closer to my goal!

Hello Everyone, 

I just purchased my first duplex and closed last week. I am now trying to get into a fourplex which my mother will occupy - she will be in the title and I will be a co-borrower on the mortgage. I spoke with a lender that stated that we'd need 15% down to finance the property as a primary residence. I know there are more restrictions for lenders in this market, but 15% down sounds very high based on my research. What requirements/loan options have you used for a fourplex with owner occupied loan?

The lease is about to end... Just give her 30 day notice to vacate and save yourself the drama of an upset tenant that was already on her way out. 

@Kaye-ann Brown-Barrett Welcome! I have been here a week myself and am looking for someone to learn with/accountability. Feel free to message me if you want to connect! 

@Ken Naim I am doing all due diligence this week - Spending the weekend at the property neighborhood and assessed the risk - I would lose money in the short term, in the long term I will make it work. Worse case scenario - we will lose money but not compromise our livelihoods. Thank you! I will not get caught up in this loop - I will make a decision soon and live with the results! 

@Ken Naim Thank you for your feedback. I will def spend time on Peter Harris videos. Asking the seller to hold the note is a great idea - I did not think of it! Absolutely calculating interest on all the funds used into the costs - I need to be certain this is a good deal - as much as I can. Thanks for for your help! 

@Jimmy Hung Amazing feedback, thank you! You have given me much to research - ie, self directed IRA. I was planning to use my 401k funds as emergency funds. I am getting the actual numbers from the county - taxes, talking to landlords, already understand eviction laws and def in search of a property management team to handle the maintenance piece. The Building is partially empty now - and has a few month to month rentals - I will budget vacancies and build a buffer. Thank you for your advice!

That is net 2k per month @Kevin Manz @Allan Flamm

@Kevin Leahy