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All Forum Posts by: Steven Antola

Steven Antola has started 2 posts and replied 4 times.

Post: Getting Started in rental property investments in Chicago

Steven AntolaPosted
  • Investor
  • Chicago, IL
  • Posts 4
  • Votes 2
Quote from @Joshua Jones:

@John Warren thank you. @Steven Antola in terms of this idea, possibly it could work. However, there are many other factors when it comes to this. We can always talk more in depth about this along with a proper blueprint for success. Working within the loan guidelines is possible but being aware of all facets (pros/cons) is important. Feel free to private message me to discuss further. 


 Hello John,

I am in the beginning stages of researching how getting into real estate investing works. My current situation is that I unfortunately had to short sell a property a little of a year ago. I am looking for alternative investment strategies since I would not qualify for an FHA or conventional. I have a fair amount of savings in the bank but am trying to avoid 20% or greater down as I want to leave some in reserves. Open to hear what you think my options are given the circumstances. Long term vision is to build a strong winning relationship with a realtor that can help me grow my portfolio over the next 15 yrs.

Post: Getting Started in rental property investments in Chicago

Steven AntolaPosted
  • Investor
  • Chicago, IL
  • Posts 4
  • Votes 2

I am looking for any insight with getting started in rental property investments. Based on my initial research, I believe that the "house hacking" method is my preferred choice. My 5yr plan is to acquire several 3 - 4 flat properties in the Chicago area. If I'm understanding the basic principles of that method, I would purchase under an FHA loan, live in it for one year, refinance to a conventional and purchase another under FHA live in that for 1yr, repeating the process until I achieve my investment goals. The long term vision is to build financial freedom, generational wealth, leverage the tax advantages of becoming a real estate investor and potentially cultivate it into my main source of income. I would appreciate any and all guidance.

Post: FHA approval vs 1yr post short sale

Steven AntolaPosted
  • Investor
  • Chicago, IL
  • Posts 4
  • Votes 2

Most appreciated Minna - Thank you

Post: FHA approval vs 1yr post short sale

Steven AntolaPosted
  • Investor
  • Chicago, IL
  • Posts 4
  • Votes 2

I am looking to invest in a 3 or 4 flat rental property and would be a "live in" landlord. I had to short sale a property a little over a year ago in Harrisburg, PA - Relocated for work / bought a nightmare property. I have read that there are some qualifying events / extenuating circumstances that may allow you to obtain FHA approval after 1yr from the date of title transfer post short sale? I have spoke with several lenders.... One of them says it's possible and the other two lenders say 0% chance? Any insight on the above would be greatly appreciated.

I really do not want to wait another two years to get pre-approval before I can even begin to start looking at properties and making offers.... If I cannot obtain an FHA loan what are some other options to secure lending without putting 20% down?