We have two small kids (2 yrs and 10 months) and the school district in our area is not great at all.We are thinking about moving to a better school district within the next year or two before the kids need to go to school.

> Cash-to-close ($2600 in fees + $3250 DP = $5850)> Loan Terms ($126,750 @ 5% over 30 yrs = P&I = $680.42/mo.)...Balloon at 5 years for $117,073.46 (Cumulative Principal: $10,162.32, Cumulative Interest: $29,982.46) resulting to a total cumulative payout of $157,218.24 ($20.94% over asking).

Steve, I've been selling real estate for 15 yrs, I know what I'm doing."

Don't forget the time value of money ($2500) is pretty high and although it will take 7 yrs to pay that off it is actually more than 7 yrs when factoring inflation and market averages in.

My name is Peter Richardson, 23 yrs old living in Daytona Beach, FL.

Thanks Chad, yes I’m definitely using an attorney and a cross border tax planner, both with more than 20 yrs of experience, I managed to get a hold of both yesterday after my post.

I'm a Technical Analyst with dreams of being financially free by 55(20 yrs from now) and with house hacking and RE investing I believe I could do it in half the time.

I am stuck and would love to get some advice on how I can better leverage my money from this deal to finance a similar multi family property, preserve the income that I am maintains, with the goal to produce enough passive income that I can retire in 10-15 yrs.  

The best terms he could offer was 20% down, 4.75%, 20 yrs.

Definitely should consider house hacking a 4 flat living in for 1-2 years then move out and rent 4th unitI also like the live in flip idea, find a place you can live in but update over 2 year period then sell as this income is tax free upon sale up to $500k profit for couple $250k for single but now you’re married HUGE fan of both strategies by I’m doing second myself and just finished rehab and rinse repeat every 2 yrs Also I believe @Mindy Jensen has done this as well in the pastAlso keep doing what you’re doing never stop!