All Forum Posts by: Sylvia Kuzminski

I can do 20-25% down no problem. 

Would you say that finding such a banker is difficult? I spoke to several lenders, both large and small, and have not had any luck 

Hi friends! I purchased my first multi family using FHA in June 2016. For various reasons, I actually regret using CHA. Anyway, I am looking to acquire more and have run into a problem- I don't have 30% equity and cannot provide 2 years of tax returns showing my rental income. Without being able to use rental income for another loan, it appears that I have a ~50% debt-to-income ratio! (I was able to buy because the lender considered 75% of the existing rental income). For now, my mindset is if i want to get anything in the next 2 years, it will have to be an all cash purchase (assuming I buy alone rather than team up with someone). I'm wondering if anyone else has been in this situation and what your gameplan was or whether anyone has some creative financing ideas? I do not want to owner occupy again/ lease to own. Any tips are appreciated!

Definitely count me in!

Hi, I am 21 years old and am hoping to purchase my first duplex with an FHA within the next year. I am wondering if this is realistic? Will I get approved for a mortgage? I will have about 15-20k cash for a down payment. I have multiple credit cards and a total credit limit around 10k. My credit score is good, but not excellent. I have been employed since the age of 15. I have never taken out a loan. I thought of something, let me know if this would help or if it is not a good idea- my parents pay my school tuition so I was thinking what if I take out a student loan under my name for my last year of college and ask my parents to pay it off completely at the end of the year? Would this help me when I apply for a mortgage or is there no point in doing this?

Thanks for all the warm welcomes everyone :) I will definitely take a look at the podcasts since pretty much everyone seems to be recommending them! Thanks for all the book suggestions as well!

@Joe Fairless interesting that you mention Manny Khoshbin! He is such an idol of mine and he is so inspirational! I have been wanting to read his book for quite some time but I didn't want to be disappointed if it turned out to be another get rich quick kind of book. Since you are recommending, it I'll go ahead and assume that it's worth reading!

Hi! I have been reading threads on BP for a while and finally decided to make a profile :)

I am currently studying math, stat and econ and am going to be a senior at Rutgers. I lived off-campus for 2 years which is what initially got me interested in real estate. I hope to buy a multifamily unit and rent it out to college students like myself. I'd like to say I am pretty familiar with loans, mortgages, etc. being that I used to work at a bank and am currently studying for actuary exams, but when it comes to actually purchasing real estate, knowing what is a good deal vs. bad deal.. well, I am a total noob and it all seems pretty daunting. I was wondering if anyone could recommend some good books to get me started. I have come across way too many "get rich quick" books that are vague and unhelpful.

Thanks in advance and I look forward to getting to know everyone!