All Forum Posts by: Tyrell D Bradshaw

How do most investors calculate home owners insurance of a property they want to purchase. I'm trying to run some numbers on an off market property but cant find how much the monthly insurance is. I dont want to ballpark the number due to my calculations being thrown off. Also, I would not be purchasing the property cash. 

When you complete the rehab process on a home and refinance into a traditional loan with a 30 year amortization, does the home owners insurance increase too?  

@Anthony Dooley Thank you for your help. It's difficult deciding which route to take so your advice is super helpful! I start researching into seller financing deals ad see what I can find.

@Anthony Dooley ok awesome! thank you for your help. I just want to make sure I have at lease most of process down so that im not blind to anything that may happen. Its my first investment and I things to be done right. 

@Anthony Dooley I was doing some research and I read that when using an FHA loan it has to be owner occupied for a year (which isn't a problem) but also that if you rent it out the other half during that period the bank makes you wait 2 years before you can purchase another property. Just seems like a big gap in progress, not saying that im going to have 10 properties in 2 years, but what If I want to house hack again or purchase a SFH rental.

Can private money lenders lend on owner occupied properties? I know that hard money lenders can't and I'm looking to avoid having to use an FHA loan on a duplex property I'm interested in house hacking. What are my options?

this is one of the hurdles im facing as well. I want to purchase a duplex and house hack but figuring out where the money is going to come from is an issue. I'm considering using private money to fund the deal and i'm getting pre-approved with a bank to see how much "house" I can afford.  

So I the property management job ended up falling through due to the owner not having consistent work flow for me. I did start working for a wholesaler though and have learned a ton of great things. I’m planning on purchasing my first property soon (via private money). The guy I work for has recommended me a banker he uses and gave me his contact. He recommends I speak to hombre and have my credit analyzed. Not sure if I want to house jacks it or just rent it out. I’m leaning more toward renting it. 

@Account Closed Thank you! And I will definitely keep in touch for any further questions. 

@Account Closed I'm currently working for a wholesaler and i'm thinking about buying a property from him at some point. I'm a little bit cautious about trying to purchase a distressed property. I fear that banks wont loan on distressed properties and that i'll have to use a private money lender. I don't think using private money is a bad option, I'm just not sure it'd be great for my first time. Your thoughts?