Hello Everyone,I bought a home back in January 2024 using my FHA loan and I received a call from Atlantic Capital Funding saying that I could FHA streamline (interest reduction) from my 6.625% to 5.7% and could even get two mortgage payments covered, (allegedly).

There is also an acre lot and garage and the price point is well below any equivalent newer trailers or stick built homes of similar size in the area (probably 50% of their value).

The neighborhood I'm looking in is a pretty rough, which is why homes are so cheap, but the opportunity is there to provide clean, safe, and affordable housing for a Section 8 voucher holder.

I have about 25000 saved up and I'm living at home for free how much of that should I spend on a property or save.How does someone truly manage a property "effectively" from a distance?

Hi BP Community - I am under contract for a 2 family home in Bound Brook, NJ built in 1880.

I am looking at a home that has been abandoned for awhile and is pretty run down atleast from the outside (who knows what the inside looks like).

You still have to pay it back, of course, and typically with a small amount of interest but at least you're paying yourself back. 

Typical market markup on work orders is 5%.

They were in model home condition. 

My brother and I purchased a home 18 months ago in which the seller wrote us a fixed 4.5%, 5-year mortgage note as an incentive for a quick closing.