All Forum Posts by: Sara S Jung

@Austin Culver

I’m in the process of acquiring a 79 unit right outside of Shawnee , was there a few weeks ago for inspections. Got some great info on the ground would be happy to share.

@Jake Reinders

Hi Jake and welcome to BP! There is a lot of support here!

@Mo Muigai

Depends on a number of things, down payment amount, credit, and how many units? Around 5 to 5.25 I would say is within range but could be higher depending on the other factors. 25 percent is typical and will have those rates, 20 percent down at 5.75 would make sense since lenders price higher at that down payment level.

@Stephen Spearman

Congratulations Stephen for getting started and keeping with it!

@Jerrod Willoughby

Rentometer,. Zillow and realtor.com, Craigslist, apartments.com

I look at a number of these sites to get an idea, also check with a local property manager to validate.

@James Atchley

You can refinance into a conventional loan if there is enough equity at that time, recommend a 75 percent loan to value to remove the mortgage insurance and get better terms on the investment property loan, however it's not required by FHA, as long as you have lived there for at least 12 months to meet the minimum occupancy clause , after that it's up to you based on how you want to move forward.

@Imran Raz there’s a number of variables involved and depends on your long term goals, but I would ask where is your money going to get the highest returns? Depending on the appreciation rate and market your in, will you be able to get maximum returns for holding it another 3,4,5 years or more? If I have 100k, can I can put that into a Multifamily and potentially double my money in 5 years and reinvest again. Multifamily will have higher returns due to leveraging economies is scale and less cost per unit. If the market is favorable for selling in your market, I would sell and take the money and reinvest.

@James Atchley yes you can do less down with FHA assuming that you will live in one of the units and house hack, rent out the other units and work on the unit you live in and keep doing that until you've been able to build up enough equity to refinance.

@Mike Jacovelli

I can understand where you are coming from and it’s good to share those goals with others since it will expand your network. I think it depends on who you are talking to and In my experience talking to people in the real estate investor community has worked the best, those people will give you encouragement and will best relate to what you are trying to do. The naysayers will bring you down and in most cases it’s lack of knowledge or understanding of how things work, or they are projecting their own insecurities on you. Taking advice from someone who has experience verses someone who hasn’t invested before is much more trustworthy and would take their feedback more seriously. Surround yourself with people who can encourage you and don’t let others be a wet blanket. Keep charging on and the BP community is a great support network!

@Eva Hambrick

As real estate investor it’s important for our CPA to proactively to help us plan ahead and tell us what we should or should not do to minimize our tax liability, since I’m not the tax expert I’m relying on tax planning Advice ahead of time. It’s also helpful for them to have real estate investment experience or experience with investor clients. Good luck!