All Forum Posts by: Jermaine McIntosh

@Jerry Padilla

Yes, the mortgage I currently have is an FHA mortgage. So if it is a conventional loan that I am seeking. it will have to be 20-25% downpayment?

@Aaron Montague

 I'm not sure if triplexes are in hot commodity for flips in Brooklyn but that's something I'll look into. I wasn't really thinking about flipping a house in Brooklyn but more so leaning towards buy and hold. Like doing some renovations on the triplex and increasing the rent.

Hey BP family, I'm new to real estate investing and was interested in starting to invest through house hacking. I currently live in an owner-occupied duplex in NYC and would like to purchase another duplex/triplex as an owner occupant in the NYC/NJ/CT area. My price range at the moment is 400K and would like to know if there are any duplexes/triplexes within the NYC metro area with potential for generous cashflow? If not, does anyone know of other areas outside of NYC with decent duplexes/triplexes?

Thanks BP family

First time hearing about the MCM through Fannie Mae. I will definitely look into that further as an option @Albert Bui

@Albert Bui

What is the usual loan parameters for a 2-4 family for owner-occupants. How much are banks or private lenders usually looking for in a down payment and do most of those loans carry PMI?

@Albert Bui @Brie Schmidt

 Thanks for the Info!

@Mark Nolan

I'm glad to be a part of the community. This site is pretty insightful.

@Brie Schmidt

 Listened to you on the BP podcast (great interview!)..would you be able to answer the above question? Thanks. 

Hey everyone,

I am new to the community and have a few questions. Is it possible as a homeowner in a 2-family home purchased through an FHA loan and resided for over a year to again purchase a new home (2-4 family) as an owner-occupant with an FHA Loan or a conventional loan of 5% or less for the downpayment. If so, I'm interested in knowing if this can be done in the Metro NY area.

Thanks,

Jermaine