All Forum Posts by: Sulaiman Shah

@Frank Rolfe How would an investor perform a thorough due diligence on a mobile home park that is out of state? Also do you recommend new investors stay away from parks that are not within driving distance? 

Hi everyone, specifically lenders, do you know if I can house hack using an FHA loan with only 3.5% down payment without income? I am currently a student but I don't make enough money to get approved for a loan. I have saved up some money so far and I can even get some from my family to use as a down payment. The plan would be to purchase a multi-family of 2-4 units. Would lenders approve if there is enough rental income coming in from the other units?

I went on my computer to read the news and the first thing I saw was this article. It talked about how the stimulus bill has a huge yet very little known change that will greatly benefit investors earning 500k or more. 

Here is the link:

https://www.nytimes.com/2020/03/26/business/coronavirus-real-estate-investors-stimulus.html

From what I understand is that investors earning over 500k or more will not be limited to deprecation over the next few years. (I dont fully understand it)

But I would love to hear other people's and investors thought and comments on this.

@Rick Pozos Can I sill get these off market deals under contract without a realtor? 

I am interested in using private lending to get my first deal done. I dont have anything secured yet. I want to find the deal and then present it to a lender. How can I get a realtor to work with me if I don't have proof of funds? 

Many people recommend finding a deal first but real estate agents require a proof of funds. If I wanted to use a private lender but had not secured funding what do I tell the realtor?

@Richard Patrie thanks that is exactly the concern I have. I see too many reviews saying they got a bunch of money but none say anything about how they utilized it.

@Maurice Colbert If you can help me out on what I'm supposed to do. What strategy did you use to pull out the money?

Does anyone know how much plastiq lets you cash out of the cards? Is there a limit on each card, for example for a 50k credit limit do they let you pull out all 50k?

Thanks for the input. That's a great idea I will look into.