All Forum Posts by: Steven Bays

I was interested in what you all thought about this idea. I currently have an FHA loan on my duplex which I purchased in June. I will be making my next purchase in March for another MF place, but got me thinking that my fiancé could use her FHA loan to purchase a 4 family by next June or later. As long as we cash flow appropriately would this action work out or are there major objections? Would like to hear from he BP community!

I have always hated debt. I just like the feeling I paying something off. I bought my first place this year. A duplex that I live in half. Me and my fiancé are trying our butts off to purchase two more properties next year. Certainly is tough trying not to use hard money and raising it all ourselves.

Sounds like from what I can keep reading is to let things pay for themselves if the interest is low enough. My goal is to buy two properties in 2014. Very exciting! I appreciate your feedback

So you would never pour money into it. For example, personal funds, to pay them off? Is it worth it?

When you are buying up properties for the purpose of buying and holding, at what point do you ever focus on paying your houses off as opposed to paying 10-30year amortization? Are there any general rules of thumb on this?

Hey. Congrats on getting on this site. It is absolutely amazing. Here is what I did. I am 25 an bought a duplex for 3.5% down. My tenants pay for most of my mortgage and I have been saving for my second duplex. I think a turnkey duplex is definitely one of the best steps to take if you are interested in RE. 7k is enough for a good start IMO if you have a handle on your finances. I would strongly be honest with yourself about a budget an make sure you are able to buy a house and manage your debt. Best of luck!!!

I was just recently addressed an owner on a duplex. For 35k house, they wanted 10k down and 700 a month 400 going to principal. I am not sure there is a common ground here. He was not willing to move in the 10k either. What could i have worked with him more on? Or is this just an instance where it wouldn't work between him and I

I am certainly not a pro but I just bought a duplex for 128500 and living in one side. I strongly feel that if it is for an investment, it is too expensive. I wish I knew more before I bought mine because there are some great places for half the cost. Apply te 50% rule and if it passes take the next step

I have seen some good ones out there but are there any opinions or do most use the same template?

Does anyone have some sample ohio and Kentucky applications and agreements? I was not too sure about which ones, or sites, to use for adopting as my own. Furthermore, aside from bed bug addendum, what would add? Thanks a lot everyone! Getting closer and closer to reaching my goal as a multiple property owner!