All Forum Posts by: Isoke Craig
Isoke Craig has started 4 posts and replied 13 times.
Post: Houston Soon to be House Hacker
- New to Real Estate
- Houston, TX
- Posts 13
- Votes 5
@Lauren Cutchen what type of terms would you suggest?
Post: Houston Soon to be House Hacker
- New to Real Estate
- Houston, TX
- Posts 13
- Votes 5
Hi Investors! My name is Isoke (e-so-kay) I have been in the building industry for 10+ years. I have worked as an architect, a general construction project manager, and now as a building accessor for HUD. But I am finally ready to stop being on the sidelines and actually start investing. My goal is to get my first multi-family ASAP, I have been running numbers, going to meetups, and listening to all the bp podcasts on my commute. Any advice for a newbie investor is welcomed and appreciated.
Post: Conventional Financing Minimum Requirements on Multifamily?
- New to Real Estate
- Houston, TX
- Posts 13
- Votes 5
Hello! I have been getting great preapprovals from a couple of banks. However, I just started putting in offers on multifamily homes, and mortgage brokers have stated that for owner-occupied duplexes there is a 15% minimum down payment while for tri and four-plexes there is a minimum of 25% down. Have any of you encountered this? I am not opposed to FHA loans, it's just I know some sellers tend not to want to accept FHA contracts as readily as conventional in this current market. Any advice or bank recommendations are greatly appreciated.