All Forum Posts by: Zachary Stein

In the same situation, curious as well. Best of luck to you sir. 

I haven't had the chance to read "Investment real estate with little to no money down" but is that what he talks about doing is using an FHA loan? @Dennis Nguyen

My fiance and I just purchased our first property and look forward to renting it out at the end of this year. 

What is the best way for us to pursue our second property without a bunch of money out of pocket?

Hello! My fiance and I just purchased our first property and look forward to renting it out in the near future. I wanted to get some insight on a few things. 

1. Is it unusual/excessive to require first, last and deposit? I really want to protect our investment and the items that would also be coming with the rental (couch, bed, tables etc..). I plan on screening with rentprep but still, people can be terrible.  

2. I plan on consulting with a lawyer and real estate agent but I want the guidelines for living in the rental very specific when it comes to how/when to pay rent. what happens when it is late. What loses your deposit.. etc.. Is this ridiculous to want to include? Does anyone charge a penalty for late rent?

Hi @Jay Hurst! Thank you for your reply. It is an FHA for a SFH. I know that the FHA says that 75% is the max but her mom also signed with me on the lease for our apartment as a co-occupant. So i was thinking I could claim her as a domestic partner.

HELLO BP!

My girlfriend Kay (her mom is cosigning instead of her) and I are supposed to be a few days away from closing and the mortgage lender comes and says this. Because her mother is not blood related with me,  either Kay and I need to come up with 25% of the sale price or Kay and I need to get legally married. I have never heard of this and it seems absurd to me. Can someone please weigh in on this?

I am very new to the real estate business and am working on my first deal/property. I was pre -approved by Rocket for my first mortgage and now they switched up on me (mid-contract) and basically screwed me over. My new loan officer is telling me I cant get approved for the mortgage I am looking at. I am still under contract for this property I want. It is a great opportunity for House Hacking and I am set on getting this deal done but Im in a bad spot. Any ideas or wisdom?

@Pego Jean-Paul I mainly want to stick to Long-term Single Family homes. I wanted to do House Hacking and purchase a new unit every year but with the new baby i'm not sure its the best idea. Trying to determine a new strategy. 

Hey @Michael Haynes

I'm in Tampa, i've been told I don't qualify for any of the FTHB programs. Which is unfortunate but I think I might the FHA route.

Hey @Alex Talcott ! It is both for me actually, was hoping to house hack for a few years but recent had a baby, so I'm not sure if that is the best decision anymore.