All Forum Posts by: Account Closed

Should be a yellow lab on a rock. Sorry for the confusion. That's my dog.

Jason and Bryan hit the nail on the head. You have more options with a 30 year loan. As Jason said you will be able to draw equity out or put up that house as collateral for another purchase.

Definintely want to do your due diligence on these types of properties. I would verify income on all potential deals.

I have made a facebook page so we can all coordinate meetings. My name is Andrew Leal on there if you guys want to find me. Once I get the friend request I'll put you in the investors group.

It appears that we had some scheduling conflicts with people including myself. Let's get some more dates together.

I'll be there. I just marked it on my calendar. We should get emails and get a list going so we can do this often.

May 7th?

Nope.

Economies of scale. Research this concept. That's why I invest in multi-family.

Alex is right, FHA does not do investment properties, however, there is another way around this. Why not scrap this deal and look for a duplex, tri-plex, or 4-plex and live in one of the units and rent out the others? FHA allows this, but you still have to show repayment capacity. The DTI front and back ends are a little less conservative than conventional loans and you still get to put a minimal down payment on the investment. Also remember that you eat into your profit margin substantially (depending on how good of a deal you get) when you are 95% leveraged up. Food for thought.