All Forum Posts by: Carson Brown

 Would a co-sign be helpful in getting approved? 

Hey guys, So here's my situation. In the next year or so, I plan on moving to a new city and I hope to start house hacking when I get there. I'm 23, currently make around $100k a year, have very little debt, and have a excellent credit score. When I move my income will most likely be less than my current income for a while. Will that effect my ability to get an FHA loan on a duplex that may cost $300k-$400k? or will they go off of my income that I have made at my current job?

Hey guys, a little backstory here. I’m 22 years old and I have been interested in real estate investing for some time now. I recently bought my first property (single family home) with a business partner a few months ago and it’s going well. My girlfriend of 5 year lives 2 hours a way from where I am in a duplex. I have always been interested in buying the duplex she lives in because of the location it’s in (very nice area) and the fact that it has room for cosmetic improvement that could further increase value. Today I found out that the owner is putting the house on the market in the next couple weeks. I’m not sure what they will be listing it, but I’m guessing it will be in the ballpark of $300,000. I do have the cash for a 20% down, but it will be most of the cash I have. Luckily, I still live with parents and have really great paying job. I ran some estimated numbers and the cash on cash return will be around 12-15%. I guess I’m wondering if this is a good idea considering it’s mostly all my cash and I’ll be renting to my girlfriend and her roommate. I’m trying to reach financial independence as quickly as I can and  hope to get there in my 30s. Just looking for some outside advice. If you have any pointers on the best way I could get a lower down payment that would be great as well. Thanks! 

Hey guys, a little backstory here. I’m 22 years old and I have been interested in real estate investing for some time now. I recently bought my first property (single family home) with a business partner a few months ago and it’s going well. My girlfriend of 5 year lives 2 hours a way from where I am in a duplex. I have always been interested in buying the duplex she lives in because of the location it’s in (very nice area) and the fact that it has room for cosmetic improvement that could further increase value. Today I found out that the owner is putting the house on the market in the next couple weeks. I’m not sure what they will be listing it, but I’m guessing it will be in the ballpark of $300,000. I do have the cash for a 20% down, but it will be most of the cash I have. Luckily, I still live with parents and have really great paying job. I ran some estimated numbers and the cash on cash return will be around 12-15%. I guess I’m wondering if this is a good idea considering it’s mostly all my cash and I’ll be renting to my girlfriend and her roommate. I’m trying to reach financial independence as quickly as I can and  hope to get there in my 30s. Just looking for some outside advice. If you have any pointers on the best way I could get a lower down payment that would be great as well. Thanks!