All Forum Posts by: Account Closed

Thanks for the advice, guys! I'm gonna check out the ways to become an agent here and/or see if I can work for an agent. This is a great start!

What is an entry level job in real estate? I've been thinking about quitting my minimum wage job for one that's close to real estate investing. Is there one that's easier to get into?

@Douglas Royse Thank you so much! This is exactly what I was hoping for. 

Where is the best place to learn about up to date Michigan and Kalamazoo city laws for RE? 

@Russell Brazil Thank you so much for this!!! This demystifies an important part of RE math for me. Now I can make my analysis on the calculators more precise. 

I've been trying to get a hold of all the necessary REI jargon and am doing okay (I think), but am somewhat confused by two terms: Cap Rate and Gross Rent Multiplier? Are they the same thing?

@Ed S. I plan on paying on time, but it's good to know that the small banks are at least willing to work with you if times get hard. I'll definitely have to keep that in mind; that's an important point to consider. 

@Adam Juodis That makes sense. Thanks for the reply.

Has anyone used the Chase Bank DreaMaker Mortgage? If so, how was it for you and how did it work out? If I decide to go with Chase bank for financing for my first primary residence (house hack), I'll have this loan to consider alongside the FHA loan. I'm also wondering about this Standard Agency 97% program as well, if anyone has any thoughts on that. It's interesting to see some of the big banks bringing in these low down payment loan programs.

Would it be easier to get a low down payment loan (like an FHA) from a big bank like Chase, who I've been with for about 4 years, or a local bank that I have no relationship with?

I've heard in the forums and on the BP podcasts that it's usually better to go with a small, locally owned bank or credit union. I want to get a FHA loan to house hack my first property, but I don't have a relationship with any of the smaller banks yet. But I have been banking with Chase for a while and see they offer an FHA loan. I'm not sure which route would be the most efficient. How much does time spent with the banks play a part in them working with you on a loan?