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All Forum Posts by: Taylor Grabus

Taylor Grabus has started 2 posts and replied 13 times.

Post: Not enough money for my area?

Taylor GrabusPosted
  • Swampscott, MA
  • Posts 13
  • Votes 3

@Christopher Johanson I to am looking for an owner occupied location. I guess I am willing to sacrifice a little more by not necessarily living in the same B to A class neighborhood. 

I haven't researched to much into wholesaling. What were you thinking for your marketing? Direct mail, driving for dollars etc? 

Post: Not enough money for my area?

Taylor GrabusPosted
  • Swampscott, MA
  • Posts 13
  • Votes 3

@Christopher Johanson I am in a similar boat as well Chris. I am 24 years old working professional currently exploring different locations to invest in and around Boston. I wish I had an answer but I am still investigating and networking to try and find an adequate location. It looks like most investments that fit what I am looking for are between 300k-400K. Now I will be able to invest in a property like this but long term I see it being difficult to build out my portfolio with multiple properties.

@Lumi Ispas I understand it is not possible to have two FHA loans per person. Although if we both acquired FHA loan prior to getting married then I was thinking that it may be possible.

I appreciate the long term insight on refi. It is most definitely something I will take into account!

@Connor Smith Thanks for the link! It sounds like another potential option. 

@Mike Hurney Thanks for the advice! I plan on looking into getting pre qualified.

@nathan 

@Nathan Emmert Thanks for the post! I definitely will take the advice and keep the loans under separate names so we can maximize the amount of loans. Additionally I will be exploring conventional loans first. I am very new to REI and used the wrong language!

@Cal C. Thanks for the post as well. I am planning on spacing it apart so that we are able to fulfill the primary residence regulation. 

Taylor

@Mike Yerardi thanks for the comment. As of right now the plan would be to live there for a year and then purchase the second multi family  then move into the new investment and rent out the old. I do plan on having more then just two rentals. I definitely plan on refinancing down the road and after the initial two purchases I will probably move forward with private loans. 

On another note I grew up in Southboro MA so I am very familiar with Hudson. Do you currently invest in Central MA?

Post: Minnesota Nice New User & Question

Taylor GrabusPosted
  • Swampscott, MA
  • Posts 13
  • Votes 3

@Casey Martin I am new to REI myself with a similar plan that you have. Biggest thing that I have heard is the PMI or Private Mortgage Insurance required by any loan that you do not own at least 20% equity.

If your interested in what my long plan is then you can find it here

Oh and welcome to BP!

Taylor 

Post: What should I do?

Taylor GrabusPosted
  • Swampscott, MA
  • Posts 13
  • Votes 3

@Fernando Valenzuela ,

I am in a similar situation, I graduated school with a Sociology degree and currently work in a sales role at a technology company. Fortunately for me its a great fit and has proven to be lucrative. I currently have a student loan debt of 30K and I don't have a car loan (under my name). My plan as it stands now is to acquire an FHA loan in 6 months time and invest in a Multifamily house.

I honestly believe that you shouldn't just change a career for capital. I am not saying that you need to walk into your job everyday and love every part of it but I do believe that being passionate about your career will only increase productivity therefore increase the chance of success. 

Fortunately for us we are still young! We are smart to get into REI early but if we can't it wont be the end of the world.

Hope it helped,

Taylor

Good morning,

I am a rookie REI located in Essex County in Massachusetts. I am currently researching and creating a long term plan for my real estate investment. I was wondering what people thoughts were about my spouse and I acquiring 2 multifamily homes through government FHA loans?

I have plans to jump in and make my first investment purchase mid 2015 through utilizing an FHA loan. I could scrap up a normal 20% down payment for one property instead of using the FHA loan but my fiancé and I thought it might be a better to instead purchase two separate homes individually using the govt. loan prior to getting married. We are not due to get married for another 2 summers and we would space the purchases out so that we can live in the homes for the 1 year minimum requirement.

Now I do understand that the FHA loans come with high PMI's but my thought is that the cash on cash return will still be higher due to us acquiring two investments.

Any thoughts?

Taylor

@Brandon Turner Just registered and I see that you have moved on from using Google Hangout. Moving up in the world!! See you at 8pm EST