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5 December 2024 | 4 replies
We are interested in acquiring a property that she can live in starting her sophomore year and hopefully have roommates pay for the mortgage.Any tips on the best way to finance this?
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12 January 2025 | 185 replies
In my almost 20 years of doing Subject 2's and working with other investors in almost every State in the US, in the very few instances the Due on Sale is called it is because if the inexperience of the Investor in not knowing how the transaction is to be done, (not closing with a Title Company or Attorney, not doing the Insurance correctly)Most of all, (not communicating with the seller) Bank calls the Seller to offer them Life Insurance or some other service, and the seller tells them, "I don't own that house any longer, some guy took that house from me and put some renter in it"If you dig into any investor that tells you they had a property or a friend of their brother in laws Collage roommate that had the Due on Sale clause called, you will most likely find that the investor screwed up somewhere.This is why Education and knowledge is needed on any Real Estate transaction.I get calls almost everyday from someone who screwed up on a Subject 2 and is asking to be bailed out, many times they do not want to pay for help, and things just get worse.If you know how to make the Bank Comfortable with the transaction, all is good.Last year I had a couple of hedge fund managers call me asking how they can offer their under preforming loans to Investors to by Subject 2, wow what a great deal, I could call Pace and he would have buyers the same day for a 1,000 homes, but the legal aspect of this would hold the Hedge fund liable so we could not do a deal.
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5 December 2024 | 22 replies
Amazing how many people want to house hack and then find out the should have roommates and the idea of being an investor ends.
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17 December 2024 | 86 replies
I partnered with an old college roommate and we split the 6% down payment
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3 December 2024 | 5 replies
I plan to purchase the property with 5-10% down, live in it for a year or two with a roommate, then rent it out full-time and repeat!
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11 December 2024 | 68 replies
Downsizing the apartment and living in a roommate situation can help significantly while you're trying to dust off and pick up again.
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29 November 2024 | 7 replies
If you share a house with multiple roommates, you could significantly reduce cash flow.Good luck on your real estate journey, and keep us updated!
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26 November 2024 | 6 replies
That's what house hacking is - getting roommates to pay as much of your mortgage payment as possible.
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27 November 2024 | 16 replies
A roommate can offset costs, reducing the $600/month shortfall.
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26 November 2024 | 7 replies
Would it be possible to get an additional roommate where you and your boyfriend live?