All Forum Posts by: Tiffany Archer

What areas in Northwest Indiana would you recommend?

@Soh Tanaka thanks so much for the info!

Thanks guys for the info. I saw there were a lot of properties in Gary indiana, so that looked interesting. Any feedback for Gary Indiana?

Hi BP Family, 

I'm interested in investing in Indiana. Areas are Gary, East Chicago, Merrillville, Crownpoint, Lake Station, Hobart, Schererville. Any suggestions on the best place to start as a new investor? I live in NJ.

@Dan its 2 unit multifamily. One unit has 3 bd/ 2bth and the other has 2bd/2bth. I was planning on living in one unit and renting the other out. I currently own a 2 family (purchased in 2017) and I received a FHA loan. I wanted to move out of that multifamily, and rent it completely out. One unit is 2bd 1 bth and would rent for $1400 and the other is 2bd/ 2bth with finished basement and it would rent for $1650.

My boyfriend and I would like to purchase the other 2 family . Our delimma is he can't afford to purchase it alone ( credit is good but he doesn't make enough $$) And I can't get another FHA loan.

We really wanted to buy another investment property by capitalizing on him being a first time homebuyer, and  only having to put down 3 to 3.5% downpayment. Getting a conventional loan would require higher down payment. I was just  trying to think outside the box and see if there were any other options..

@Ryan - What's a perm loan?

Hello,

I'd love some sound advice. I am a newbie in Real Estate investing. I'd like to purchase a multifamily in New Jersey. I don't qualify for conventional mortgage. I was told that I could get a hard money loan and then refinance to conventional mortgage. How does this work? Are there strict requirements? Do I need to find a bank that will refinance after receiving hard money? Or should I find the lender first? Do you have to pay downpayment and closing cost to hard money lender? Where should I start? Is this even a good idea?

Any feedback would be greatly appreciated. Thanks in advance!

Hello, 

Im interested in purchasing a multifamily in New Jersey. My plan is to buy and hold for rental income. I was thinking of getting a hard money loan and then refiance fo a conventional mortgage. Can someone explain to me how this works or if its a good idea? Thanks!