All Forum Posts by: Stephen Wiater

Great podcast!

Never put all your eggs in one basket!

Hi all,

I am curious how it works when you put in a offer on a house.

I am currently looking at a condo for 74k

I want to make an offer of 62K and negotiate the closing cost with the owner.

My question is:

After I put in that first offer, am I locked in? or how does that work? because I obviously want to get the property inspected and everything and if there was a problem can I back out? or if I just have a sudden change of heart about buying it, can I back out? any advice will be much appreciated!

Thank you!

gotcha, thank you Account Closed

@Account Closed

thank you @ed E

@Account Closed

Is it usually a big problem to rent out your condo? how common is this.

Thanks

Hi all,

I understand that buying a condo can be dangerous sometimes because of HOA fees and etc.

can someone give me some of the pros and cons and things to look out for?

Thank you,

SW

@Jonas Delarosa

Good luck with your journey man! I am currently in NJ and new to REI with the same type of plan as you, so if you ever want to compare notes or ideas together lets grab a coffee sometime or just message me!

-SW

Hi all,

I am acquiring more information about refinancing a property, any info on how it works, how long you have to wait (can it be 6 months or like years)?

In my situation:

I am looking to get a conventional loan 5% down for eing a first time homebuyer in NJ.

I'm looking for a duplex that needs about 20-40 thousand in rehab work, and then live in one unit and rent the other out. (HouseHack)

I've been looking for a good deal I'm hoping to make this happen in the next month or two.

I know I am thinking far ahead, ( maybe too far ahead) but I want to learn more about the refi process and how it works so I am ready for when it is time, because my plan is to buy 2 duplexes in 2 years.

Any and al advice will be much appreciated!

Thanks!

Thanks for the advise Lesley @Lesley Resnick

This seems like great advice, thanks a lot! @Chris Mason