All Forum Posts by: Shera Ewing

@Reid Chauvin I asked the lender and they don’t offer that loan.. I’m trying to purchase in Dayton OH.

@Reid Chauvin do I go through the same company that gave me the pre-approval to get the FHA 203k? Or can / do I need to go elsewhere for it? If else where, can you point me in the right direction please?

Hi Reid!

I've been wondering the same thing!!! I have been needing answers to this for days now! The more I educate myself, the more I find out how much is out there! I have been pre-approved as a first time home buyer for an FHA loan of 200K. That's it! No mention of all the other programs that are avail the could benefit me more than an FHA. I would have been done tried to buy a multi-family fixer upper but know FHA wont allow.... I feel like I'm missing out! I don't know how to go about getting the funds either I were able to buy one. You mention a renovation loan in the topic... How do you go about getting one of those? I've been wanting to know the process to that as well.

@Andrew Freed how does one qualify? Is it the same as if applying for FHA and conventional?Or is that something to ask them?

@Andrew Freed wow! I'm glad I know that now! I thought FHA was the only option for low down payments. I'm gonna have to get with my lender to see what else I can qualify for! Thanks for letting me in on this!

@Andrew Freed all everyone seems to get me qualified for are FHA loans.I'm guessing it's because of the amount of money that I have saved, but I didn't even realize there are low down conventional loans out there. I'm also trying to house hack through multi-family units. Why is it that the FHA gets locked out? It's kind of discouraging.

@Daniel Sosa thank you!!!

@Jordan Woolf Did you create a funnel? If so, how? As for driving for dollars, what did you do or I should say what were you driving around looking for? For sale signs? Believe me, I'm willing to do the work Just need advice, tips and tricks. 

@Andrew Moore

Ok. That makes me feel better but now I realize I may have missed out on some good deals… oh well, I live and I learn. 

I have a question though… what happens if I purchase a property that’s fully occupied and have to occupy it in 60 days but the tenants lease’s aren’t up for another 6 months or so? How do you get around something like that? Do I just let the deal go or are there other options like maybe pushing closing back? Or should the realtor know this ahead of closing so I don’t waste my time?

@Steve Vaughan

You can tell I’m a newbie, but hey, that’s what I’m here for. Yo learn from people like you! 😃

So, here's my situation… I want to build wealth in real estate while also leaving a legacy for my kids. I was told house hacking was the best way to get started. I don't have enough of a down to do 20% on a conventional loan, but good for FHA. Plus the thought of using/leveraging other peoples money to pay the mortgage so I can concentrate on buying my next was appealing! If you know of a better way to go about doing this, please let me know!

Thank you!