All Forum Posts by: Account Closed

I have been living in Detroit for over 20 years and completely agree with what Brian and Dylan are saying about knowing the area. There are some really nasty parts of Detroit (where I live...) but 10 minutes away, on the right street, and you're in a gorgeous neighborhood. Location is very important. I'm moving to Kalamazoo next month and was analyzing some deals and have to say there are A LOT of rentals aimed at college students. 

Hey @Christian Bors that sounds like the perfect scenario for me. I want to nab this first deal down quick and start prepping for the next soon after. I never thought of that though, thanks. Raising the base offer and getting the 6% closing sounds like a win-win for the buyer and seller. I'll give it a shot! 

@Wayne Brooks Thank you! A loan officer sounds like a good idea. 

@Thomas Ruf thanks for the list of what I can expect. I'll prepare for the 4.5% now. 

Is it common for closing costs to be paid by the seller or lumped into a FHA loan? I'm currently saving up for a 3.5% down payment on my first property sometime in early 2017, but believe additional costs will be problematic since I'm still in school and am saving money very slowly. Should I expect to be responsible for closing costs?