All Forum Posts by: Wane Zaza

@Forrest Kalk I would take your contact information for sure for when I'm ready to buy a MFH.

@James Hamling I had no idea it was that much of a frenzy out here. Any realtors you would recommend for help finding a deal?

@CJ Norman

Yes more pictures and information would be appreciated

@Jeremy Taggart

Yea I plan to live in for the right amount of time, refi and get one or two more before aheading the conventional route. The minute I'm able to go conventional (with enough capital saved up in reserves and down payment) I will.

I read around the site seems normal that if your monthly payments is zero thats really what the bank looks at when it comes to debt/income ratio - as opposed to the whole thing. So looks like I'm golden. Just got work my face off here on out. Thanks Jeremy!

So I'm saving every penny reading educating daily to get to where I need to get to buy my first house hack. Only thing is I have near 100K in federal college loans at 6% intetest rate.

About 18 months ago I joined income driven repayment on my college loans and made the payments $0 per month. As I get closer and closer to that coveted first 25k (thanks for the book Scott Trench) i started thinking if I would even qualify for a FHA loan or down the road for a conventional loan.

Then all of a sudden last night I read a few blogs basically in summary that said because my payment is $0 a month I WOULD be able to qualify for a conventional mortgage let alone an FHA one - thanks to Fannie Mae's new update to this in 2017. So then I looked at how long I could be at $0 per month.

The Fed site says 20-25 years a person could be on the income driven repayment plan.

My question is does anyone have any experience with this? Heavy college loans and qualifying for a house hack? Any insight would be superb! Also the plan is definitely to use an FHA loan for at least the first two house hacks.

@Bob Romano

Sounds a little instrusive.

@Kurt Pauley Sounds good! Thanks!

@Kurt Pauley This is awesome I wish I was able to make this one. But I wonder why we don't have more meetups in Minneapolis from BP. Or maybe I'm just not attentive enough. Do you attend other meetups Kurt? Or do you just do your best trying hosting them?

@DuWayne Jones Correct me if I'm wrong but are you asking for a contract that just gives you the right to hold the property so the seller doesn't show anyone else (for like 30 days)? One of those where you can then sell that contract like a wholesaler type of deal? That one I believe is only 1-4 pages.

I see. Thanks Jordan