All Forum Posts by: Greg Bohn

@Jason Lee Thank you for the information!

@Trevor Ewen That's what I've been finding too once I thought about all of the costs I would have. Very interesting point though, I really appreciate your insight!

@Jeremy Taggart Thank Jeremy. I was aware that you had to live in the house for a year, was just wondering if there were any other requirements that I did not know about. Thank you for the input!

Been looking into using an FHA loan, either standard or 203k, to purchase my first multifamily property. I was wondering if there are certain restrictions on refinancing an FHA loan. I would ideally want to do what is typically done in a BRRRR strategy using a conventional loan, however I'm not sure if FHA loans have different rules, or if it varies from lender to lender. Let me know!!

@Jayson Greenblatt @Brian Adzadi Thank you both for your input! I will definitely take your points into consideration when researching this idea further!

@Patrick Daniel @Sam Shueh thank you!

Was wondering if anyone had experience House Hacking in the Bronx? Or even any large city where rent and property prices are high. I was looking into the idea of using a low money down loan to purchase an apartment somewhere in the Bronx, renting out the other rooms to pay off the mortgage and live for free or very little money. Has anyone had success doing this? From researching apartment and rent prices in the Bronx it looks like I would be able to do it, however I'm not sure if I am missing any important information. Any info for a newbie like me would be appreciated!

@Patrick Daniel To be honest Patrick, I'm still new to this and don't actually have any plans with this property in particular, was just doing some research on properties and wondered what the information meant. One questions, and this can be answered by @Angela Smith as well, what does that tax value mean exactly? Is that number used to determine the property taxes on the house?

I was looking through the public property records for an area that I'm looking to invest in, and when I was looking through the page it said that the "2018 Total Value/Taxable", was $79,000. Is this the appraised value for the house that the city has decided on? The house is currently on sale for $40,000, and was wondering if this was an indicator that this might be a good deal. What else should I be looking for in my county's public property records? Any info would help!

@Alex Deacon As I do more and more research that's what I've come to realize. Like you said, as long as you're smart you can make money anywhere