All Forum Posts by: Shai Yona

Do you currently own any properties investment or primary? In order to use DSCR loan product you will need to own one of these first. Otherwise your considered first time home buyer. Best option is using conventional or FHA so you can house hack and enter the market at 3.5-5% down. # things to look at when applying for a mortgage are credit, assets and income. Credit is important because that will help you get the better rates when applying, Assets are needed to help you be flexible with your purchasing options because depending on the assets you have you can enter the market at 3.5% -5% or 20%. If not 20% then maybe you can use the remaining assets to help with rehabbing your property while living there or use it to get into another property in the future. Income will help determine how much mortgage payment can you take on a monthly basis. The higher your income the better because you will be ale to be more flexible on the areas your looking for as well as the type of properties. Those are the 3 things to focus in order to be enter the market.

@Albert Bui @Matthew Kwan @Kin Meng Sio

Hey Guys,

No i do not currently own any properties and yes would be a first time home buyer. I would definitely be hoping to put as little of a downpayment as possible and have been interested in FHA for a while. I live in NY currently but my plan is to get an investment property in Miami that is 4 units, move there, and live in one unit for a year as required, and collect rent from the other 3. The thing that I am wondering about is that i do not have income history. I just recently finished college and havent had 2 years of w-2 history, and now im a realtor. I don't want to lean on realtor income forever, I am looking to start my investment / wholesaling journey and make that my career. I appreciate the 4 of you guys helping and teaching me about these loans and ways to get into the game.

1 Vote

Miami, Florida

Hey thanks so much for replying, John. Your info was helpful!

0 Votes

Miami, Florida

Hey! I have been a big fan of bigger pockets for a while. I am going to start to be more active in the forums here. I want to learn as much as I can, and figure out a creative way of how I can acquire my First Multifamily property. I would like to have it be a 4-plex. I am open to an FHA loan or house hacking and living in one of the units. I also am interested in the BRRRR method. Like i said, i am very new to this, but eager to learn.

I also am a recent college graduate so i dont have 2 years of income to show for a conventional loan. Maybe a DSCR loan is what i should go for? If anyone wants to connect or has any advice for how I should get into the game, I would love to talk!

2 Votes

Miami, Florida

Quote from @Robin Simon:

Quote from @Shai Yona:

I am looking to invest in Florida, primarily the Miami market. Calling all PMs, brokers, lenders, contractors, and wholesalers. Looking to build a portfolio out here! Lets talk :)

What type of unit size are you looking for - small duplexes/triplexes or more of large unit multis?

Hey I am looking for quads and above.

1 Vote

Miami, Florida

I am looking to invest in Florida, primarily the Miami market. Calling all PMs, brokers, lenders, contractors, and wholesalers. Looking to build a portfolio out here! Lets talk :)

2 Votes

Miami, Florida

I am brand new to the real estate game and I would love to meet and connect with some investors in my area.

0 Votes

New York City, New York

I am 22 years old and I want to learn more about real estate investing. I am a huge fan of bigger pockets and looking forward to building relationships here. I am asking here for any tips or wisdom on investing in out of state properties with no/low capital to start! Thank you so much.

0 Votes

Hey Guys!

I am a 22 and a brand new real estate agent primarily doing rentals in NYC. Does anyone have any experience with this and advice you can give me? I really love Real Estate and want to learn as much as I can and eventually get into investing as well.

Thanks!

0 Votes

New York City, New York

All Forum Posts by: Shai Yona

Shai Yona has started 5 posts and replied 8 times.

Post: New to investing and looking to acquire my first multifamily property in Miami

Post: New to investing and looking to acquire my first multifamily property in Miami

Post: New to investing and looking to acquire my first multifamily property in Miami

Post: Looking to invest in multifamily properties in the Miami market

Post: Looking to invest in multifamily properties in the Miami market

Post: Looking to network with Investors from new york city or new jersey area!

Post: Looking to invest in an out of state property in Florida

Post: New Real Estate Agent in NYC