All Forum Posts by: Shekinah J.

@Annie Johnson I would love to network with you! Please send me the details of the next meet up

@John Gach i think you are better off leasing the space to someone who wants to set up their business with like minded aspirations. My thoughts are on the branding part. People go to who they trust, and run towards a brand. I mean, you can make it so that beginners have a space to have clients but that will only be temporary since they will most likely want to be apart of a brand or create their own to bring traffic.

Your profit would be more consistent if it’s leased rather than chairs individually being rented out.

The market right now is a sellers market. Very competitive. High demand for multi- family properties. However it is a good market to get your feet wet wet with investing. Low cost entry compared to other markets. Good neighborhood (B+) and high demand areas, your looking at spending 199,000 - 290,000 for duplex. that is a ballpark generalization though! 14216 is a hot area, other zip codes will depend on the street and neighborhood. 14225 is also hot but considered a suburb of buffalo called Cheektowaga. I live in here. 

@Rodger Curbelo

Be mindful though, the FHA loan interest rate varies. With the lowest being 3.5 % and highest 10% depending on qualifications

@Rodger Curbelo

I agree with everyone. You also have the option to go through NACA. They look at the bigger picture instead of approving you based on credit score. You'll be able to qualify, but the process is tedious. However, it's a great program that prepares you to be a homeowner. Many people want to own a home but don't really know how much responsibility and work it takes to be a great homeowner. Those habits roll over into becoming good with managing property and being a landlord

@David M.

Can you explain this further?

Are you saying if you purchase 5 properties with conventional loans under your name, you won't be able to transfer them to an LLC?

(I’m a Newbie investor)

Yes you can house hack with a Naca mortgage. However, you will have maintain residency in the home for the life of the loan. For example, if you purchase a 2 to 4 unit property, you will have to live in one of the units. Moreover, if you purchase a single family, you can rent out a bed room.