All Forum Posts by: Bradley Dosch

Lol good to hear! Here are some links. With bank of america, just go to your state and county and see if you apply. There's also the USDA loan which is 0% down in "rural" areas. It's possible there's a place you may want to buy that's considered rural. Check out the map in the link below:

Purchase Product | NACA

Mortgage Down Payment Center | Bank of America

Eligibility (usda.gov)

Hey Aidan, awesome move putting some money in the Roth IRA and love your desire to get started! You'd be surprised how far $6k can get you when it comes to closing costs. I would go for a house hack and utilize some programs that allow you to put little down. NACA, Bank of America down payment assistance, FHA, 3% down conventional. Plus since you're in Cincinnati, I imagine home prices aren't too expensive. If you have a job, you should be able to qualify for a loan. If not, you could get your parents or someone you trust to co sign on the loan. Learn more about NACA and B of A and talk to a skilled lender to learn more about programs you can use to land your first house hack!

That's certainly a great way to do it! Thanks for sharing your experience Jacob 

It sounds like your friend has got it going on, not too much to change. If he wants to invest in RE, I think that could propel him to FIRE sooner but also index funds are great. The only thing I'd do differently is move out of the first house hack, keep it as a rental, and buy another house hack. 

If it were me, I would buy a primary residence and house hack it. This will lower your living expenses dramatically and start building equity for you. Then I'd use that rent savings to buy more house hacks and investment properties. 

Hey Nate, it certainly is tough but try not to get discouraged! Just keep trying. In terms of finding a good FHA 203k lender, I like to use the below link:

203(k) Endorsement Summary Reports - HUD

You can go to any month you want and then go to your city, Indianapolis, and see who has closed the most FHA 203k loans. I have found luck doing this. 

Hey Javaughn, congrats on getting your first wholesale deal!! I love your idea of using the funds to buy a property, and FHA could be a great option for you. I would definitely suggest you go for that first house hack. Totally agree with @Bryan Balducki that finding a good lender and then finding a loan you can put little down is the way to go. There are so many great programs out there for house hacking. 3% down conventional, NACA, Bank of America down payment assistance, the list goes on. The financing for house hacking is amazing!

Hey Cameron, that's an awesome house hack you described with that triplex. I definitely agree that talking to a lender is a great move. Reading through your post, I hope my answer makes sense. 

I would keep the triplex and rent it out fully. Then I'd go for option 2 and move back into that SF house. I'd stay there for as long as possible and use the equity in your triplex (HELOC/refi) to buy more investment properties/house hack. I'd prioritize this investing over buying my "forever" home.

Keep in mind this is just the approach that aligns with my goals the best, which is to build wealth to reach financial independence ASAP!

Good luck with this decision Cameron and awesome work on the triplex!

Hey Marcus, good to hear you want to get started! Here are my thoughts:

1) No. I've asked so many lenders this question. If you find one who would do this, please let me know.

2) No idea, I'm sure a lender in NY would know

3) No experience with this but sounds expensive and difficult. You'd probably have to open the walls up quite a bit to accommodate a shower/bath. This is a good question for a contractor. 

Totally depends on your goals and what you want. If it were me, my goal would be to grow more wealth. If the place you're in cash flows, I'd move out, rent it out and buy a new house hack using the equity you have in your current house. I would also try to buy as many rental units as I could with the equity. Again, that's just me and my goals. If you want to just sell the place and invest the proceeds in the stock market and then live in a van, I can't say I wouldn't be jealous. Good luck with this big decision!