All Forum Posts by: Chris Davidson

@Rosy Zide are you working with smaller institutions or bigger banks?

@Austin Shade search for a mortgage broker. Go smaller and local credit unions that have in house loans. If you are talking to bigger banks about standard loans that will be sold they have to check all the boxes and can't be as flexible. Hope that helps good luck man

@Jon Coleman get a new lease signed on your terms and stating you as the lessor always better to be covered than not. But remember they are human so do it with class. I usually do it on day one making Intros and see what items need to be addressed which makes them more than happy when you fix what they have been trying to get fixed since the seller decided they want to sell.

@Kyle McGrath, or go more direct find a duplex you want and look the owner up and see if they are motivated to sell. None of this will be easy, but could shorten your time frame on finding a deal, and definitely increase your odds of a FHA in a hot market if you find a seller willing to work with you that is motivated.

Hey @Kyle McGrath, if you want to quicken the process put it out there to local investors, one may be wanting to get rid of one and cash out on some equity maybe a 1031 and if you are flexible he might be willing to work with doing a FHA loan. Go to a REI meet-up or find a local investors group online and put it out there what you are looking for. Be specific. You need to have a price point size location. If you are vague and say you just want a duplex in Jacksonville, no one will help as that is to vague.

Best of luck!

@Paul M. If really looking to go above and beyond what @nathan g. Said buy a guest pass to a gym. That shows you are thinking above and beyond and proiveds some relief. Or like some other members said learn how to replace one. It really isn't a hard job. Work on developing better relati0ns with a plumber or handy man to get your jobs done quicker.

@Changseok Kim i have actually had good luck at listing homes for rent as a 2 bed with a office instead of a 3 bed house. I would see if you can bring in Electrical make the room useful and not worry about calling it a bedroom. It won't look good to run along the base board but depending on your code you might be able to run it in conduit. Just try and think outside the box.

Best of luck!

@Mike Marino One I did to start my first deal was a 2nd home purchase like a vacation home. If I remember correctly it leads to normal rates, like 10% down, and not a restriction on living. But that was back in 2013.

@Dieudonne T. seems pretty well thought out. I am not sure about the area so not positive about how accurate your numbers are. I would try and find a local landlord and ask them if these are realistic or numbers he is seeing with properties of a similar type. For me starting out I think it is hard to go wrong with a property that will have a payment under 500/month. If things do go sideways that payment is a lot easier to come up with than a larger one. 

Best of luck!

Congrats on taking the first steps. I would check out some audiobooks or actual books. watch videos, and listen to podcast. The more you learn the better you will be able to decide what style of investing is right for you.

Best of luck!!