All Forum Posts by: Gianni M.

I’m looking to buy in the pacific northwest and investigating lending options for small multifamily, but larger than 4 units. Looks like I’m in a kind of weird place as these loans could be less than 1m. Where should I turn - would local credit unions be an option?

Say I have a fully remote job, get an FHA loan to house hack a 2-4plex and I keep one unit for myself while traveling and working elsewhere for 8-9 months out of the year (no other permanent residence). Is this allowed per FHA guidelines? I can't find anything online that answers this question. Thanks!

@Sunny Alexander that is an ugly sofa. Not sure about slip covers for a pull-out. What if you bought a colorful, washable throw blanket? like a simple yellow or orange one. And then the cleaners would toss it in the wash with sheets etc

@Bjorn Ahlblad how does one identify whether there are tenants not paying?

@E. C. "Stony" Stonebraker thanks I’ll take a look! I should note I’m probably looking to buy something with 3-4 units so something on a large scale likely won’t be as relevant

Anyone have a spreadsheet they like they could point me to? I understand I should perhaps build my own to understand what goes into it, but kind of tight on time atm and want to start analyzing deals.

A search on BP yields a couple 7 year old results, some of which are behind paywalls.

Thanks!

Ownership of the home I grew up in is shared 50/50 between my mom and my grandparents. It’s fully paid off and located in CA. When my grandparents pass away, the home ownership will be split 75% my mom, 25% her sister. Is there any way for my grandparents to designate a decision maker for selling the property down the road, so that we don’t run into issues if one party wants to sell before the other? I would prefer to avoid the family arguing about it and don’t want us to have to settle it in court if the situation arises. Thanks!

@Paul Ndour if you do call make sure you get the suggestion documented somehow over email or otherwise. You wouldn’t want to take action and then have no proof that you were advised it was legal

@Carlos Contreras as a first step I think you’re in a good place to document everything that is taking place. Not sure whether you’re allowed to record conversations without the other party’s consent in CA, but you could at least install some security cameras on the property. My grandparents use Arlo cameras and they seem to work well and are pretty simple to install, no cords to deal with. I don’t know anything about evicting section 8 tenants but documenting something illegal or threatening would be helpful

@Andy X.

if you put down 3% you'd have mortgage insurance which is not an insignificant amount of money each month. Also you'd need to be living there for at least 1 year. I think I'd put down 3% if i was going to be living in the place and i felt confident I could fix it up (or the area was growing) in a way that I could refinance out of the FHA loan in the next 18-24 months