All Forum Posts by: Anthony Barrueco
Anthony Barrueco has started 5 posts and replied 15 times.
Post: Your first out of state investment
- Posts 15
- Votes 3
Originally posted by @Will Fraser:
Hi @Anthony Barrueco! You'll be able to accomplish this using a rehab loan from a local bank, investment lender, Hard Money Lender, or even through a big chain bank.
My first rental was an off-market deal and required a good bit of rehab (about 20% of the purchase price of the home) and it was and is a mildly profitable rental. I'd do it again . . .ish.
Thank you for sharing, Will!
Post: Your first out of state investment
- Posts 15
- Votes 3
Hello, I'm considering buying property out of state and renting it out. I'd like to rehab the house and improve its value. What type of loan can I get to rehab the home if I won't be occupying it? Where did you buy your first property and why? Was it a single or multifamily house? Did it require rehab? What was the result?
Any insight is appreciated.
Thank you!
Post: Your experience using FHA 203K loan
- Posts 15
- Votes 3
Hello, I recently started learning about real estate investing and I'm considering buying a house Upstate NY that requires rehab using an FHA 203K loan. My intent is to move in with a 3.5% payment and improve the value then flip it 2 years later to use another FHA loan to buy a home, and begin investing out of state. What has been your experience using FHA 203k loans? Did you do a single or multifamily house? What kind of work can I do to add value to the house aside from adding a bathroom?
Also, feel free to correct anything I might have misunderstood about the process. Any insight is appreciated. Thank you in advance
Originally posted by @Adam Tafel:
It's always easiest to start in your local market. Lots of people invest out of state, but most have some decent experience. Get a few deals under your belt upstate before venturing elsewhere, just my two cents.
Thank you. I'll definitely keep looking upstate
Hello, this is my first post so thank you in advance to anyone who shares their 2 cents. I am looking to buy my first house in 2021. I live in NYC and trying to figure out whether I should buy a fixer upper house upstate NY and rent it out afterwards or should I invest in out of state buy and hold properties? Currently looking at New Hampshire, Rhode Island, Georgia, and Texas.
Thank you again!