All Forum Posts by: Tyler Hodgson

@Tyler Austin, I’m always happy to help another Tyler!  What’s bringing you to Dallas?

A couple of considerations:

- FHA is not just for first time homebuyers. Minimum down payment is 3.5%

- Conv has some low down payment options as well, and with good credit it may be a better option than FHA

- Specifically a 5% down HomePossible is a great Conv for Multifamily 2-4 unit primary residences (3% down for single family)

- You mention having no cash, you definitely will need some cash for down payment, closing costs, and personally for reserves. You can get gift funds from a family member to help you qualify 

- I always recommend using a low down payment option for any owner occupied purchase. The opportunity cost of capital for 20% significantly outweighs the cost of the mortgage insurance required on lesser down payment loan options. Plus you can refi later if your home appreciates to get rid of the mortgage insurance. 

Let’s grab a coffee or lunch when you make it to DFW! 

I agree with @Hattie Dizmond’s suggestions and reasoning. I’d also point out the Lewisville and Carrollton have strong rent demand and good investment numbers. Denton has some good pockets if you want to look further north. 

@Matthew A Brady I use DATCU for my rentals, Capital One for my business, NavyFed for personal. I have accounts all over the place. When it comes to a bank for a depository account, I'm just looking for who is going to hold my money without charging me fees and who is going to let me withdrawal my money without fees and hassle. 

Welcome to BP Steven. I’m also a CPA, and I live in Lewisville area. I quit my full time accounting job at the beginning of this year to focus full time on real estate and my mortgage brokerage, and I’m not looking back. 

BP is a wealth of knowledge and information, so take advantage of it as you prepare for your first purchase. Let me know if you ever need anything or want to just meet up and grab coffee or lunch. 

Hey Chance, welcome to BP (even though you've been following for a while). What do you do for your current job, and what are your plans/goals for jumping into real estate more full time. 

That's great that you already have a rental property in AZ, and it looks like you'll be able to easily pick up another one right as a primary residence and house hack.

I grew up in Irving and lived there for about 12 years. I now live in Lewisville. Let me know if you have questions about specific areas. You should get in touch with @Kenneth McKeown, who is a fellow investor and a real estate agent. He's helped a lot of guys on BP in the DFW area find great properties both on and off market. 

Good luck! 

Hey Andrew! 5 deals under your belt is a solid start! That’s more than a lot of guys can say. 

What’s bringing you from WA to TX?

Hey Greg! @Kenneth McKeown is a local real estate agent who has helped a lot of BPers find house hacks and investment properties here in DFW area. He's done both on market and off market deals. Should be able to help you out too! 

Stephanie, @Kenneth McKeown is a local real estate agent, and has helped a number of BPers with finding 2-4 units (both on market and off market) for investment or house hack purposes. He can definitely help you out! 

@Raja Ramu based on that sales price I’d say you could get to $1100-1300 annual premium with sufficient coverages. I’ll PM you a couple good insurance contacts I have