I am 19 years old I attend a local community college, and work as a real estate broker, I was looking into buying a multifamily unit in my city (Fort Morgan) in order to rent out some units and live in one does this sounds like a good idea. ( I have no landlord experience)

I am 19 years old I attend a local community college, and work as a real estate broker, I was looking into buying a multifamily unit in my city (Fort Morgan) in order to rent out some units and live in one does this sounds like a good idea. ( I have no landlord experience)

I'm due to touch base with my broker next week to figure out more about whats out there but thought the wiser heads on here could give me some insight before I talk to him.I purchased a quadplex at the beginning of November via conventional 30 year loan.

Having more options is a good thingHe and his partner has since set up shop in OH and have found the margins to be better and risk reduced and ability to turnover more houses a year Lots of additional contact in AZ included trusted Mortgage Broker, and Auction contact that we are in contact with as needed Main problem as mentioned in finding enough cash to invest in the Bay area Also I feel in the Bay Area you have to bank on appreciation rather than finding something that has a good cash flow of can be flipped for a profit.

The banks were screaming bloody murder when unregulated mortgage brokers hit the streets and it took about a decade just to have a broker get a license, now, the broker is held to almost the same banking standards in may respects, so that is a big plus for banks to get these small brokers off the streets, for most folks it means if they need a loan they'll have to head to the bank.Scruggs and other seller financing gurus brought much of these new requirements on seller financed deals, if there hadn't been scammers with the rinse and repeat set ups seller financing probably wouldn't have gotten hammered as it did.

While the Miami real estate market is extremely competitive, I have aligned myself with a trusted broker who I have closed 5 deals with in the last year.

Do you have an insurance broker that you work with, or did you just purchase this original policy on your own?

I feel I was lied to because he had a broker associate who wanted to buy the house as an investment.

If so use a broker familiar with the property type they should know the market and be able to answer rental rate questions or run a market survey for you.

@Alicia Waldman , first, you need to determine if the lender is a direct lender, indirect lender, or a mortgage broker.