All Forum Posts by: Tommie Rowell

@Paul De Luca and @Manny Vasquez thanks for the recommendations, I'll defintely look into some of those programs for my initial or 2nd property.

@Paul De Luca I have heard of some programs that could get you low down payments for your 2nd property as well. Are those just a myth?

 @Paul De LucaBut I could still save up for a down payment on my 2nd property while still living there, no? The income from my 9-5 can still provide me with enough savings to do that, I just couldn't make that 2nd property my primary residence.

Yeah, so far the only obstacle I saw was that the property had to remain my primary residence for 5 years and I couldn't sell or refinance it at all. Which is fine, that won't prevent me from building my portfolio in that time frame. I was moreso concerned if it prevented me from writing off certain taxable items because the property was program assisted. 

Hello Everyone,

I'm new to the real estate investing seen but have attended seminars and done some book reading on my own up until this point and I think I'm finally ready to take the leap! Through all my studies I've developed this goal for myself to obtain my first property with as little out of pocket money as possible and I think I've found a way. So my state offers down payment assistance programs for first time buyers that meet a certain criteria. I meet this criteria and have also confirmed that I can buy multi-family properties with this program. I'm half-way through the process but wanted to check up with some legal and finance people to make sure I'm not missing any strings that may be attached here. Has anyone here obtained property this way or know of anything I should look out for before pulling the trigger?