All Forum Posts by: Stephen Wiater

Good Morning All,

I am asking a few questions on building a Multi-Family house on a lot of land that I am planning on buying.

If you have experience with Multi families, id really appreciate any feedback~

I am looking to buy a 4 family house (to keep it residential and not commercial), and I will be living in one of the units and renting the other 3 out.

Now my questions are...

1.) Is there any suggested ways to help pay for the mortgage loan while the house is being built?

2.) I want to build at least 3 stories high, how do I know the height limit that I am allowed to build in a residential area?

3.) What is the zoning requirementss for a 4 family house in a residential area?

Thank you in advance for the help!

-SW

Andrew, what doe you mean by training your tenant, I am pretty sure I know what you mean but I would like for you to just explain it more clearly if you have a minute, thanks!

Hi All,

I am getting ready to buy my first property I just wanted to make sure I have the right understanding on exactly how closing works... I Have a have a few questions..

1. How long will the closing take?

2. How much would it be and can you tie the cost in with the loan? On approximately (150k-200k) property.

3. Is it recommended to Hire an attorney? how much would it be approximately?

4. Is it required to get the property inspected by an inspector or can you self inspect if your family is in the house building business?

Thanks in advance for all the help!!!! Much Appreciated!

Regards,

Steve W.

Thank you Chris 

Hi friends, curious how long you would have to pay PMI for a FHA loan, for example if I borrowed $100,000 and put $3,500 down for a FHA loan when will I stop paying the PMI? Any advice is much appreciated thanks!

your a boss

First off Congrats!!! Also thanks for sharing your story in such details, and wish ya the best of luck! I am looking to do the same exact scenario as you. 

thank you for all the replies and advice

I am currently acquiring about buying a cheap single family property with a FHA loan or 203k loan then converting it into a duplex or triplex.. I would live in one unit and rent other units out.

My family has a owned and operated general contracting LLC and I could get very good prices on renovations for the property, what are things that I should be careful about when pursuing this situation, this will be my first purchase in the real estate world, I am a little nervous but and definitely appreciate any advice or tips to look for when purchasing, thanks!

HI everyone, Any advice is appreciated, I am new to this website and new to Investing in real estate.