All Forum Posts by: Daniel Alegre

Hi @Patrick Rauland welcome to BP. If you are looking to break into real estate and stop renting i would suggest doing what they call around here a "House Hack". Which is buying a Multifamily home , living in one unit and renting out the other(s). If you find a good deal you could have the mortgage covered and either have a little cashflow on top of it or have the utilities covered aswell. 

My wife and i have done this as our first investment and has worked out fairly well. there are many great people on this site that can advise you and although im pretty new to the game i could share with you what i have learned so far.

Good luck

So i was watching @Brandon Turners 's webinar the other day on financing incredible rental properties the other day, which was great btw. He talked about getting more than 1 FHA loan as long as you live in the previous property at least 1 year. So i want to attempt to do this, i have lived in my current 2unit Multifam house for 1 year already and have my eye on another place in town. I talked to a mortgage guy and he said i must have a reason to get the next property. So one reason would be that eventually my wife and i may want to have another child but in our current situation our unit only has 2 bedrooms. If we end up staying in the 2nd house longer than a year then we will def need that third bedroom.

How many FHA loans have you ever heard of someone having at any given time. And lets say in the future i have these 2 properties and want to get a 203K loan, will having the first two properties hinder that venture? how many 203k loans can someone get?

Are there other methods of continuing to get FHA / 203K loans?

Try using vinegar and baking soda to remove the stains. Then try Detailer's Pro Series High Performance Glass Restorer. I have never used it on shower glass but it worked pretty decent on my fathers old car window. Be sure to try it in a little spot before spreading it out

So I was quickly talking to a friend of mine today who is a Sr mortgage development offocer for Santander bank. He told me that he can originate loans for someone holding up to 10 loans. We really didn't get into specifics but ill be calling him this week. 

I am still on my first mortgage so I'm not ready for that yet but I figured I could gather information and maybe help some of you out that are reaching that threshold of not being able to get any more conventional loans.  

What type of questions should I be asking him? And if anyone needs that type of lensing let me know and ill make the introduction. 

@Brett Russell  ah Thank you very much. The names didn't show up until I put the ?

@Rob S. Im having the same problem but it looks like you got it to work on the 2nd post what did you do differently

Here you go @Fred Stevenson

https://itunes.apple.com/us/app/biggerpockets/id657773184?ls=1&mt=8

If that doesn't work from any location here on BP just scroll to the bottom of the page there is a link that says IOS app.

So I see allot of people looking for mentors in their profiles many which do not post much so I imagine they signed up to BP excited about RE then saw something new and sparkly and dissappeared. So my question is this, as mentors what do you look for when you meet someone looking for mentorship? What characteristics do you look for to device whether or not this person is a good investment of your time?  What are things you expect of them after taking them under your wing? What if any reciprocation do you expect from them, cash, internship, deals..etc?.

@Ryan Fagan yes I plan on staying within three blocks of the riverfront ,anything close to the riverline or after in my opinion are undesirable. There are allot of outside commercial investors who are working on revitalization of high street and the promenade. There are rumored plans to bulid and apartment complex overlooking the water with a target demographic of millennials. 

My other target area would be in Ewing since I work there and it has TCNJ.

Hi Tim, i'm obviously a newbie around here so maybe im out of my depth giving any suggestions but why dont you just cut out the middle man wholesalers and try direct mail yourself.  You could also look for probate properties, distressed, or vacant properties. Someone suggested calling up the water company and getting a list of properties with water shut off then finding the owners and making an offer.