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Updated almost 6 years ago on . Most recent reply

Account Closed
  • Washington
4
Votes |
7
Posts

Looking to out of state inv from the Seattle Area

Account Closed
  • Washington
Posted

Evening and happy snow day Seattle,

I've completely caught the bug with real estate investing. I've been plowing through the bigger pockets books, listening to every podcast and I spend my nights going through every new house on the market that I can find.

I'm interested in purchasing a multi family in Detroit and I've picked one out that i'm interested in, but I'm not really sure where to go from here. 

I have:
13k in savings
10K in credit lines
12K in a family member "line of credit"
660-700 credit score depending on where I'm at with my credit card

This might be a silly question but do people just post a link to potential deal on here hoping to get some advice? 

Thanks!

Most Popular Reply

User Stats

719
Posts
3,088
Votes
Michael Haas
  • Real Estate Agent
  • 🌧️ Seattle Investor & HouseHacker | 🤑 Helped 100+ Clients HouseHack | 🏘️ Own 17 Rentals & 5 Airbnbs | 🏗️ Built 5 DADU's
3,088
Votes |
719
Posts
Michael Haas
  • Real Estate Agent
  • 🌧️ Seattle Investor & HouseHacker | 🤑 Helped 100+ Clients HouseHack | 🏘️ Own 17 Rentals & 5 Airbnbs | 🏗️ Built 5 DADU's
Replied

Do you own your primary residence @Account Closed? $45k goes a heck-of-a-lot farther with a 3 - 5% down owner occupant loan than it does with a 20-25% down investment loan. If you don’t own your primary residence have you considered house hacking locally?

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HouseHack Seattle | Michael Haas & Team
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