All Forum Posts by: Douglas Harris

@Vernon Bond Just curious how did this deal turn out for you?

Hi @Neal Phillips, 

I’m an investor and from Lynchburg. I currently live in DC but  I own one property in Lynchburg. I’m looking at multifamily homes as well. I would be happy to have lunch with you when I’m in town. 

Hi Jerry, 

Sorry for the late reply! And it really depends. I would read my loan docs to see if they specify this. I’ve found this to be such a hard question to answer. For example, I only had to stay in my home for 6 months. And it’s hard to define “primary” and “full time”. All in all I would check with my loan company to see if you can get more information. The last thing you would want to do is have them call your loan. 

Also youcan also look into refinancing into a IRRRL refi. If I'm not mistaken the home does not have to be your primary with this refi product.

Investment Info:

Single-family residence buy & hold investment in Woodbridge.

Purchase price: $212,000
Cash invested: $2,000

3 bed 1.5 bath townhome. This was my first investment. Did a house hack with a VA loan.

Investment Info:

Single-family residence buy & hold investment in Woodbridge.

Purchase price: $212,000
Cash invested: $2,000

3 bed 1.5 bath townhome. This was my first investment. Did a live in flip with a VA loan.

@Trevor S Foster the great thing about seller financing is there is no “one” way to do things. You and the seller negotiate the terms. I’ve seen buyers put down a larger down payment. Me personally I’ve done smaller downpayments. 

I would definitely recommend using a title company of course. If you would like we can chat more about this process.  

I live in DC as well so meeting up is an option as well. 

Thank you @Christopher Grobbel

@Christopher Grobbel i agree! If you have any knowledge on inspections for the HCVP please feel free to share. I'm searching for an inspection check  list or more general knowledge.

@Ike Okonkwo thanks for your reply. No your actually right. The tenant pay a portion of the rent that is based on a percentage of the family’s income (on average about 30 percent), and DCHA pays the rest of the rent directly to the landlord.

Thanks guys for your reply. @Christopher Grobbel I’m very interested in what you will find out in the future as I’m thinking about using this program.