All Forum Posts by: Fahadbin Alam

@Jeff White I'm understanding a little bit but I'm still confused on how it worked out on the 25% equity. So when you refinanced it to a conventional the bank basically took the 25% ARV and said yep now it's a conventional. So would that mean you have 0% equity afterwards? And this is called a rate and term would you still have to pay closing cost or would that just come out of the 25%?

@Jeff White Wow Jeff thank you for the examples it really makes sense now. I still have a few questions.

1. What is a Mother in law apartment?

2. So your 1st house hack you refinanced it and I'm guessing you put down 20%. You built 25% over time, did you pay it off using the amount of equity you had in the house? and is this called a line of credit?

3. Hypothetically Let's say I bought a house for 100k and put a 5% down on it. 1 year goes buy and the property appreciates to 200k now can I use that 100k+ appreciation to put down like a 25% conventional loan? Or do I have to put a new loan on the 200k and not the original 100k?

@James Carlson Thank you again James I didn't know you can do a 5% conventional on a primary residence!

@James Carlson Thank you for replying!! I'm confused on the conventional loan, can you always put down 5%? Because I thought it's always 20-25%?

@Johann Jells so are you paying down the first house hack or would you go ahead put a big down payment on your second house hack?

@Andrew Caballero Can you have 2 primary residences?

@Johann Jells thank you for replying, I confused on what you would do with the orginal house hack? Like do you sell it because I want to keep it.

@Elise Marquette thank you for the comment. I'm a bit confused, can I still house hack 2 properties?

So I understand that a foreclosure property is always on auction, but for a pre-forclosure can you purchase the same way you would as retail, such as doing a inspection?

Hello Bigger pockets what questions should I ask a Real estate agents so I can better understand them and compare them to other Real Estate agents??

Could you guys give me your top frequent go-to question?