All Forum Posts by: Will Mejia

Thanks. I will look into figuring out my buying power first. Thanks for your recommendations. I live in Buena Park. I love how close to everything I am. But to buy it's expensive but I will look more detailed when I figure out my buying power.

Originally posted by @Jonathan Klemm:

@Will Mejia - I think you need to start by talking to a good lender like @Michael Facchini or @Michael Barbari. They will be able to help you determine your buying power.

I personally love the idea of house hacking if you can. It is the quickest and least expensive way to acquire properties and build wealth through real estate.

What area of Chicago are looking in? There are tons of areas that are less expensive if you can travel +/- 20-30 miles from where you are at.

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Currently I own 2 duplexes that I rent out. I have some equity in them.

I live elsewhere and rent. I now want to buy a 3rd property perhaps a condo so the money I pay monthly goes to my own property. But another option could be house hacking. I could buy a property with 2 units so I can live in one and pay it off with the 2nd unit.

The problem is Chicago is very expensive to buy at the moment and I earn very little from my job. So my job income would be out of the question to to convince a bank I can make monthly payments. I have 800+ credit score and equity mentioned above as potential ways to put a down payment but I want to know if this is possible.

Has anyone done something like this before?

Thanks.

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All Forum Posts by: Will Mejia

Will Mejia has started 6 posts and replied 22 times.

Post: Chicago - Equity and Credit Score enough to buy a property?

Post: Chicago - Equity and Credit Score enough to buy a property?