All Forum Posts by: Shanna Bechtel

Hi Jacob, There may be more attractive options for a first time buyer. I know the bank I work at has a good program where a first time buyer can put 3% down and have no PMI. It's done through CRA which is a federal program through FFIEC. All banks have to participate in CRA, and more info can be found at FFIEC.gov

Brandon, Did you look up the process of TN estates? I'd sit tight until the probate process was complete and the title search comes back.

*FFIEC.gov Federal Financial Institutions Examination Council My mistake

Kevin, Check with local banks and credit unions about their CRA programs. CRA stands for Community Reinvestment Act. You can locate a CRA area at FFEIC.gov. If the said person makes less than 80% of the median income or is financing a home in a CRA area, there are federal programs they may qualify for even with sub-prime credit and little money down. The FFEIC website should also be an overall resource about the program. The act was basically set up to prevent institutions from discriminating from certain lower income or less "desirable" areas and it is federal. They are required to do so many CRA related loans every year so they may be motivated to put something together.

I would recommend Citizens Bank for investors in New England, MI, OH, PA, NJ, and NY. They offer a no minimum balance, no fee business checking account. They also have landlord/tenant accounts.

Surely! There's actually 2 and both are listed on meetup.com. LIMG-meets 4th Thursday at 7pm at Red Lion Hotel in Harrisburg @ 4751 Lindle Rd (Next to Sheetz) Central PA Investors-meets 1st Tuesday at Hilton Garden Inn in Harrisburg @ 3943 Tecport Dr

I have no RE experience at all yet. All I know is what I've read and heard on podcasts and videos. I have lending and banking experience (only a year but more than RE). I'm interested in seller financing, note buying, and any method that will build me a quick pile of cash to pay off debt and leverage in RE investments. Short term goals: 1. Payoff car loan 2. Payoff all CC debt 3. Payoff student debt 4. Build $10,000 cash reserve Long term goals: 5. Help 1000 people experience home ownership 6. Make $20,000/mo in passive income 7. Put $1 million in a retirement account 8. Own my own home without traditional mortgage debt I'd really like to partner with an experienced investor and learn the ropes. I suffer from severe analysis paralysis from what could go wrong and what is the "best" method for what I want to accomplish. Any info would be extremely helpful and thanks to all of you who contribute to this community.

Welcome Sitha! I am a half hour north of you in Harrisburg Pa. There's an RE investor Meetup monthly in my area if you're interested in checking it out with your wife sometime.

Following thread for the info. Looking to invest but literally have no cash right now. Looking to research notes and save up cash needed.