All Forum Posts by: Todd Wheatley

Hi @Jeffrey Allen and congratulations on your journey to a househack! It’s an excellent strategy for the communities you mention due to their high costs.

My wife and I are currently househacking a 4-unit in Waltham and we used an FHA loan to keep our down payment low and allow for us to make significant capital improvements. Nick's advice above is spot on.

I also have relationships with a couple lenders that have been offering 5% down on owner occupied duplexes without PMI (first and second mortgage).

Lastly, you could explore seller financing if you come across the right property owner. Some owners are just tired of managing property but they would be happy to “hold the paper” for you and collect passive income. Down payment on an owner financing is whatever you’re able to negotiate with the owner.

I am real estate investor and MA licensed agent. I would be more than happy to connect and share ideas if you’re interested.

-Todd

Hi BP,

My partners and I are evaluating the acquisition of a 100+ unit multi-family property using the HUD loan program. We are interested in connecting with someone whom has firsthand experience using "green" building initiatives to enhance the already favorable LTV and interest rates offered by HUD loan products.

If you, or someone you know, has this experience we would love to connect and will be mindful of your time.

Thanks in advance.

-Todd

Thanks so much @Matt Dixon! I will be sure to reach out to Jeremy. We also invest in Ohio, Cincinnati in particular. I would love to connect when we are down in the area. Appreciate your valuable input.

-Todd

Thanks @Mitchell Jaworski, really appreciate the insight. With ~6 months of runway before heading down we feel obligated to look at and analyze buy-and-hold deals if the numbers make sense. If they don't we have no problem having our rentals here in MA paying our short term rent for the winter down there.

I grew up just outside of Worcester so if there's anything I can do to help with your efforts up here in MA please let me know!

-Todd

Thanks @Share Ross! I look forward to your referral :)

Thanks @David Shapira. I will look Bonnie up and reach out. Always happy to connect w/ local folks too.

Hi Everybody,

@Jessica Wheatley and I are evaluating options to temporarily re-locate close to family in Southeast Florida late in 2020, we live just outside Boston, MA. We are looking to take advantage of the WFH-friendly environment Covid-19 has created and spend the upcoming winter down south. In typical BP fashion we are evaluating rent vs buy options. We are interested in Palm Beach Gardens (our family is here), Jupiter, Tequesta, Hobe Sound, or Stuart.

• We would love to connect with local investors in these communities to discuss market conditions, neighborhoods, macro-trends in the area.
• We are also looking to connect with local investor-friendly agents

If you have any referrals or recommendations please let us know!

Thanks,

Todd and Jess

@Jonathan Bombaci another terrific virtual meetup! Thanks for allowing me to share our recent close on the 4-family house hack (kids and all)! See you Thursday!

She's not located in CT or MA but I'd recommend reaching out to @Natalie Kolodij because she can provide remote / virtual CPA services.

@Donell Sousa If you plan to live there as @Neil Henderson mentioned then I see no immediate drawbacks to taking your time and renovating over time.

Another option you may want to consider if you're looking for a short term flip is to use a bridge loan (e.g. hard money lender) to make the initial purchase and use your capital for the renovations rather than the initial purchase. If you go this route just be well-versed in bridge loans and the associated holding costs of such products.

Good luck!

-Todd