All Forum Posts by: Chris Martin

 Hey Chris, 

Does your girlfriend have a bachelors degree? If so that counts as 2 years work history and you may use the most recent paystubs to qualify 

Hi @Chris Martin, I’ve helped many people across Biggerpockets in the same situation as yourself and am local to South Florida. With her being a recent graduate, that shouldn’t cause any issues. With her having partial income filings for the most recent tax year, as long as she is full time currently or being paid a salary, that will have no adverse effect on her current qualifications. I am a local mortgage broker in your neck of the woods. Feel free to reach out with any additional questions that you may have. Happy to help as always! 

Hey Chris, 

I recommend Justin and Fred Margolis with PRMG. 561-504-9149. I have heard nothing but good things about PRMG and they kicked but on a deal for me (SFH) a few months ago. I know they work with a lot of investors and they will be the first ones I call when ready to make that leap. I am in WPB too (Northwood Hills). I would love to connect with you and your girlfriend. Feel free to reach out. Birds of a feather...

 Hello Chris,

If you are looking to do a house hack, I think an FHA loan would be the best way to go. You can put down as low as 3.5% for FHA loans. FHA loans are also pricing better now too.

Regarding your gf's 6 months income from last year, since you are both looking to buy together, how long have you been employed? Keep in mind if you both apply, both your financials will be considered-FICO, joint income, debts, etc. 

Have you been in the same job more than 2 years? Has she been in the same job since? I am guessing by now she has been employed in the same job for a year? Lenders like to see some stability. If yes, maybe maybe maybe, some lenders maybe willing to assist especially if you have been in your job greater than 2 years. 

If you have been in the same job more than 2 years and by now she has been in the same job more than a year with no job change some lenders may be willing/able to help. It'd depend on them and FHA guidelines. I'd ask lenders if it'd be a deal breaker.

Hey Chris welcome to BP community. You may consider partnering with trusted realtor and property manager to ease some of your worries. Good luck on your real estate investment journey!

I wouldn't stress about being distant from the property from an operational standpoint. Mostly, with a good property manager and good realtor to work with you won't have much to worry about. Even if the rental is close, if you want to maintain your sanity you should put people between you and the tenants/property. 

Do remember that if you use an FHA you need to occupy the property for a year so if at all possible, go for conventional loans on the house hack if you really think you will be moving soon!

I am an agent at investment only brokerage working in Broward, Dade and West Palm. If you need any support feel free to reach out and I am happy to give any insight I have!

Best of luck with your investing journey 

Hi Chris,

I host a meetup for Short term rentals here in town once a month feel free to PM and I can send you the information.

@Chris Martin Welcome to BP! If you are moving a lot, it will be a bit tough but it is still possible with a good realtor, property manager and advisors in the markets you plan on investing in. There are some great properties in WPB and within TX so you need to decide where you would like to be invested in.

As an investor, both are fairly equal in the sense that they are both landlord friendly states and no state income tax (don't ya just love it!?). I have 5 properties in Broward and one in WPB. My first bit of advice is to have a lot of money put away and have your credit score, taxes, etc in order. If you want to chat on the phone sometime or meet for a coffee/drink, we could make that happen.

If you plan to eventually settle in WPB (or whichever city), then I would recommend starting with investments nearby there so you could eventually manage them yourself if are no longer moving around a lot.