All Forum Posts by: Aristone Louxz

 Well i have been working full time as a door man since i was 18 also doing a bit of construction on the side , since that age i have been saving and strategizing a way to get my first property. Turns out to get a fha loan not much is needed just 2 years solid employment and enough funds for closing costs and down payment. also a good credit score. Its all mostly based off  of your income  

 What do you think is a fair price for 3 bedroom in that area?

 Yes i am on 60th st , 2 blocks away from Berganline avenue.

Hopefully i am able to make it !

 Thanks for the information 

its  West new york in New jersey 

Purchase price was $382,000, mortgage is $3,012 month and each unit is rented for $1,400. The best part of the deal was the owners covered the closing costs and where able to do a sellers finance credit (I believe thats what its called ) for $5,000. @lorcane malone

Good Evening Bigger Pockets, 

After 3 years of hard work I've been able to get my first multi family Property in west new York, NJ. I closed the deal in the end May 2016 and I'm now on my second mortgage payment. I was able to get my property with an FHA loan. The property is a duplex, 3 bed over 3 bed and a finished basement with 4 bedrooms and 2 bathrooms. I'm currently renting both 1st and second floors and staying in the basement. The rental income falls about $200 short from covering my monthly mortgage payments. (I cant complain though I'm paying $200 rent basically ) Im just giving everyone an update and would appreciate any feedback on what to expect as a new home owner and over all any advice

thank you!

@Tyler Brown ^^

Im looking at the Bronx right now. I believe it has potential and its very close to manhattan. Also its the only place i can afford to buy a multifamily house for under 400k in nyc.

I want to get a multi family house live in it and hopefully rent out a portion of it to cover my mortgage and even profit if possible. Im not Pre Approved yet just waiting to file this years taxes since i need 2 years of income proof (this is my second year). My Broker  said i would probably get approved in 2016 for a loan up to 400k. I've done  research and Ive saved up enough money for a downpayment and closing costs for a house of that amount. What should be my next move? and is there anyone who can give me any advice on what to expect or what mistakes not to make 

thank you - Aristone Louxz