Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Darryl Griffin-Simmons

Darryl Griffin-Simmons has started 5 posts and replied 23 times.

Quote from @Steven Caldwell:
Quote from @Darryl Griffin-Simmons:

@Andrew Garcia thanks for the reply. My name is not on our current primary residence. Thus, I was thinking of house hacking a multifamily unit in the local area initially to lower the required down payment. Our son is young, 2yo and can be flexible to move to a different daycare if necessary. The opportunity to move is prime before pre-K starts. We don’t have a lot saved for real estate investing since we recently were introduced to it this month. 

I appreciate your offer to help learn because we need it with just beginning this journey. When it comes to seeing what amount we would be qualified for, especially if going the FHA route, my name would have to be on the investment property mortgage since my wife already did an FHA for our current primary residence? Or my wife could do a second FHA as well once we decide to scale? I'd be glad to connect with you privately to learn more.

youre able to do FHA since you dont have any FHA loans currently in your name. Only thing is like Andrew said you would have to move into it for a year. or until you refi out of your FHA loan. if you dont have cash on hand you could def cash out refi the house you have now or take out a HELOC and use that. luckily you have options. hope this helps
Steven,

Thanks for the insight. I need to learn more about refinancing our current house or doing a heloc as we don’t have enough cash on hand. And in this seller market could be problematic to being outbidded and or high interest rates. I think we have about $100k left on the mortgage (wife bought via a short sale).


Again, I appreciate your help thus far on this new journey.

@Andrew Garcia thanks for the reply. My name is not on our current primary residence. Thus, I was thinking of house hacking a multifamily unit in the local area initially to lower the required down payment. Our son is young, 2yo and can be flexible to move to a different daycare if necessary. The opportunity to move is prime before pre-K starts. We don’t have a lot saved for real estate investing since we recently were introduced to it this month. 

I appreciate your offer to help learn because we need it with just beginning this journey. When it comes to seeing what amount we would be qualified for, especially if going the FHA route, my name would have to be on the investment property mortgage since my wife already did an FHA for our current primary residence? Or my wife could do a second FHA as well once we decide to scale? I'd be glad to connect with you privately to learn more.

Hello BP Family,

I’m new to real estate investing and have been binge watching BP YouTube videos this last week. I’m interested in multi family properties and want to land my first property this year. So, I’d love to meet some local BP family in the area if there’s a meetup or other networking opportunities.

I’ve been doing research to develop my CCC and would love to stack properties over the course of the next 5yrs. However, before putting the cart before the horse what would be the best financing options? 

My wife owns the house that we live in, as she purchased before we met. With said that could I do an FHA if I'm not on the mortgage/ loan? Or should we pull some equity out of current house to put for a down payment?

Thank you in advance!
Darryl