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23 January 2025 | 10 replies
Avoid PMI and then go to a local credit union and get a heloc after closing to gift the money back.Have this as a tool in your tool belt but pursue use of the 3.5% FHA, knowing that you will be at a competitive disadvantage if you are competing with non FHA buyers, then you can call in the favor from your gift person.Just know that if someone gifts you down payment money, your bank will require them to sign a letter stating that it is in fact a gift that doesn’t need to be paid back.
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8 February 2025 | 42 replies
@Kaleb Johnson Depending on where you are upstate you are not too far from the rust belt where prices would be comparable to the Mid-West.
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23 January 2025 | 15 replies
I have sold a couple of businesses as well, and speaking from experience, you are never more vulnerable to make a mistake than when you are sitting on a giant pile of cash.Also, I agree with @Corey Conklin - I'm a big fan of "overflow cities/towns" in the sun belt.
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30 January 2025 | 62 replies
Alan unpermitted non warranty work is how have the mid west rust belt gets their rehabs done.. just is what it is.. and some are not citizens and some are Fair point, doesn't make it right though.
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9 January 2025 | 15 replies
@Ken Sanders Here in central PA you could use S&T Bank and Members First Federal Credit Union can offer both Lines of Credits based on equity you have on an investment property (80% LTV) as well as business lines of credit.
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3 February 2025 | 56 replies
PS my Detroit section 8 folks were not the easiest .. compared to the bible belt..
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28 January 2025 | 14 replies
You develop relationships with a handle of people that are creating notes and you help them recapitalize, it is like a conveyor belt of deals coming to you.
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14 January 2025 | 4 replies
I would first attempt a 2-4 unit to get the experience under your belt.
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16 January 2025 | 3 replies
But I still dabble in handyman work and some remodeling as I find it hard to put away my belt and still enjoy the work.
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14 February 2025 | 43 replies
Almost all the attendees were new...there was a raise of hands of people who had at least 2 deals under their belts.