All Forum Posts by: Christian Bors

Hey Guys,

Can anyone point me in the direction of a CPA around the Harrisburg, PA area?  

Thanks in advance.

Jose Diaz if you can use the FHA loan you should. You will probably get the most bang for your buck. Also, maybe look in tax liens. 10k would be enough to invest there.

Ross Bernard I'm in the same boat! I'm current seeking a mortgage rep that will count my income from my first property. Without it, my DTI may be too high. I have some student loans :( ....anyways, I'm going to monitor this forum and keep me posted if u find solution.

I really like this philosophy. My next property, if the offer is accepted, will basically  be this process. It needs about 30k in rehab but after it's seasoned I would want to cash out and put a 30 year mortgage on it. Rehabbing a property will build instant equity and since you updated most items of the house, I would think the maintenance costs would be Lower.

this is a very helpful post!

@Michael Wentzel How long did this process take from start to finish? Also, when did the bank allow you to refi at 75% ltv? I heard most banks are 12 months but  some are willing to do 6 months.

I am also in this situation. I purchased a triplex and I'm currently looking to make my second purchase. What programs are out there that allow me to put less then 20% down on an investment property either sfr or multi?

@Brie Schmidt @Account Closed 

Just got off the phone with a mortgage rep that experienced this situation. The client went to jail for 18months and was fine 25k.. Also the government came after the mortgage rep as well. I think this discussion is over. 

@Richard C. Haha she was nice. And again, it was my first one so I didn't have a clue what was going on. I have moved on to other reps now. I don't think she understood what I am trying to do.

I'm starting to get that feeling haha. And I have already contacted other reps. It was the first one, so I really didn't know what I was doing.

And I think the plan for the next one will be to get a fannie mae property. Then I'll still be abe to get around that 25% down payment LEGALLY!

Thanks Brie!