All Forum Posts by: Kevin Zolea

@Ben Nelson

Happy to answer any questions you have! I bought a duplex at 2.75% on a 30 year fixed with a conventional loan. I was originally supposed to put 5% down but then last minute my lender said I had to put 6% down for some odd reason. The loan product I used was the Home Possible loan from Freddie Mac. However, there are certain requirements that you must meet to qualify. Check out this fact sheet to learn more about some of the requirements: Home Possible.

Looking back at your initial post, I just realized you said you have a primary residence already. This was my first home purchase. That may be a reason why you can't qualify for this specific loan product but I'm not 100% sure! Hopefully someone else with more experience can chime in!

@Blake Holaday Congrats Blake! Just out of curiosity, how did you find the buyer?

@Zachary Spade My local REIA has a forum website just like BP. I searched through them and kept coming across the same attorney for lease agreements. I then reached out and got one from him and edited it as I saw fit. I recommend seeing if your local REIA has something similar or reach out to another local investor in your area.

Hey @Alexander Gonta ! I’m a new investor myself but work have worked in Trenton for the past two years. Just like any area, Trenton has good and bad parts. However, there’s definitely opportunities there for some great returns.

@Ryan Goodsell I like Stessa. It’s free and easy to use!

@Kevin Gasper Great choice on deciding on starting with a house hack! I just closed on my first one and I’m super excited to get started.

If you qualify, I recommend checking out the Home Possible loan. In my opinion, I think it's a way better option then FHA.

@Ben Nelson I had the same criteria for my house hack I just purchased. Went through 3 lenders before I found the one that could help. Keep reaching out and I’m sure you’ll find someone who can do it!

@Stephen Solano I’d recommend the following:

-Build a Rental Property Empire, 5th Edition - Mark Ferguson

-The Book on Rental Property Investing- Brandon Turner

-The Millionaire Real Estate Investor- Jay Papasan

They’re all great reads and really break stuff down simply!

@Alexander Blinn I'm still working towards obtaining my first house hack but when I run my numbers I always run it with myself living in it and it fully rented out when I leave.

@Mark Altin I would run the numbers with the property fully rented out to see if it would cash flow after you leave. Also, I would include property management because chances are you would eventually want to outsource management.