All Forum Posts by: Shakira Patterson

What is the average TIP and APR for a first-time home buyer with excellent credit who's applying for a 30 year-fixed home loan?

Thanks in advance!

So I am in the process of purchasing my first investment property.

I am under contract for $274k - this is a multi-family property with 2 units. A tenant is currently renting one of the units for $1k a month and she wants to stay once I take over as the landlord.

After getting the home inspection done. There were a couple of repairs that I requested to get fixed. One of the major repairs was replacing the columns in the basement that basically hold up the house. This repair cost an estimated $8-25k to be replaced and the seller said she wouldn’t get it replaced.

She also declined getting any of my other requested repairs fixed.

I’m wondering if this should be deemed as a red flag or dealbreaker. Any advice is helpful.

Thanks in advance!

@Jonathan Burmenko

Hi Jonathan, Thank you!

I appreciate that.

I found a great deal in my area to purchase a 3-flat unit. The property is currently fully-occupied with long term tenants. I ran the numbers and if purchased the property I could instantly obtain roughly $1,000 in immediate mthly cash flow.

I’m wondering if there is a way I can purchase this property creatively, potentially with little to no money down.

Is this unrealistic or is it possible to do? Open to suggestions.

Thank you guys so much! I've actually taken 2 webinars now on BiggerPockets after I made this post and I now know ANALYZING deals is the key to landing a profitable one and many more to come.

Thanks again! 

I am in the process of purchasing my first rental property. I want to make sure that everything goes smoothly and in order to do that I want to super knowledgeable and informed about the beginning stages. I would love advice and tips on what’s a necessity prior to my purchase.

Things like how much “blow” money should I have if I face evictions or have hidden repairs that may come up, should I see an accountant that specializes in working with real estate investors prior to my purchase, would it be smart to buy a property that already has occupants, etc..??