All Forum Posts by: Drae C.

hello, I had a job as a warehouse associate and was hoping to meet the FHA 2 year job requirement here but was laid off after 1 year. If I get a new job with increased or same pay as a warehouse associate soon would I still have to start the 2 year requirement over?

hello, I've been working at my job for a year now saving to become an investor with the use of a fha a loan but, the company isn't doing so well right now and its possible I could be laid off. Is there any exceptions to the two year employment rule

My job recently cut my hours so I'm having trouble saving enough money to reach my goal of having a down payment saved by April 2017. I've been there for almost a year now so I was wondering if I kept my job to reach the 2 year employment qualification and got a second job to speed up saving would I still be able to qualify?

I actually have that app and plan on enjoying all my interest with the like minded people there but regarding the rei club what will I learn when I show up with no money? I'm guessing I will meet my future realtor and contractor for renovations there? telling them I plan to invest in 3 years and will be in need of a duplex? What will happen when I show up? I don't want to start with a single family property because it will take so long to pay off. With duplexes I can have people paying the mortgage for me while I work full time and put as much income as possible to pay off the property and use it as a line of credit to get another snowballing my way to 10k a month ( dream goal) as I own properties out right. I believe I'll eventually go from taking 3 years for a down payment to having it in a month. I'm 24 now and shooting to reach financial freedom and goal of 10k by 32.

I originally wanted to invest in Austin, TX being that I'm from and familiar with the area but I'm beginning to think it will be too competitive for a beginner with little cash ( I plan to save up 45 to 60k in the next 3 years and obtain my first duplex with an fha loan and maybe 20% down on another). So what do you think about surrounding areas like Pflugerville, manor, elgin, bastrop, Buda, San Marcos,  and Kyle Texas? I'm also thinking of reading up on outer state properties but afraid to risk failing because I'm working too hard and don't want to waist 3 years but it's always been my dream to be a landlord. I just want to make my dreams come true but didn't know how lucrative and competitive this field was until I started researching for a plan to make my dreams a reality What do yo think because I do know think there will be anything left I can afford when I'm ready.

What are the benefits of going to a rei club meetup if I have the money to invest right now? 

What do you think about buying multi family properties and and renters backed by section?

Once I buy a multifamily property what are the odds that I will fall behind on mortgage payments because I can't find renters? Using mortgage calculators the rent they recommend me ask seems a little too steep for the area I want to focus my investing. I am born and raised in Austin TX and this is where I want to invest But multi family properties here are so high I'm beginning to second gues if I will be successful or fall into a severe amount of debt.

After reading the fha loan requirements I realize it will be a 3 years before I can begin to invest in real estate. I would like to know if I can get a fha loan and multiple conventional loans all at once. I believe that with that amount of time I could have excellent credit,  enough money saved for a fha loan, and the 20% the bank requires. If possible than I would start with 2 multifamily properties. What do you think?

I'm starting off at 24