All Forum Posts by: Matt Heath

@Dave Carpenter

Did he use FHA several times or did he use FHA for the first property and then used conventional loans for the rest? How much down did he use? That is the strategy I would like to use since I have small capital to work with.

@David Krulac

Would you suggest if you are a young individual to acquire as many four units as possible with 5% conventional down and living in them? Since you are putting less than 20% down you would be paying PMI though. Would you bump the down payment up to avoid this? What is the best way to scale your business in your opinion?

@David Krulac 

I thought you were only allowed one FHA loan at a time unless relocated via job or marriage ect.? How can you keep acquiring four plexes with FHA? Is there another type of financing you would suggest using? I am interested in acquiring 4 unit properties myself but would love to hear different strategies in doing so. I currently have a 4 unit which I used FHA.

Anyone have any good advice? 

Am I stuck waiting two years to purchase another property to wait to use the income from the property or can I obtain another property? I am living for free with zero expenses and have income from the property and my job.

Hello,

I am seeking assistance in creating a business plan to acquire more investment properties.

First a little background info;

I purchased my first property ( a fourplex ) on 12/12/2014 using an FHA loan. The property is fully rented and cash flowing. The only debt I have is 18k in student loans and a mortgage of less than 189k ( the fourplex ). I am making 40k a year with my job and I have a credit score over 737. I purchased the fourplex on 12/12/14 and moved into it right away, I had to relocate 4 hrs away for a job just recently. I was wondering if anyone had information on obtaining a second FHA loan or what other options I have in obtaining additional investment properties. Does the debt to income really matter to banks? I currently have 10k in the bank and will plan on continually saving money for additional properties.

What strategy would you suggest for a new investor just getting started to obtain more properties without having too high debt to income ratio? Do you need two years of history showing cash flow before you can use the income from the property? If so, how does anyone acquire additional properties within the first two years, because this would substantially increase your debt to income ratio. 

Thank you for your time

@Brie Schmidt -  That is awesome and inspiring! It would be awesome if you could send me a PM or post for everyone to see how you started out ( breaking down the deals and info), how much money did you have to start, strategies used, ect. I know tons of people would be interested in learning from your story and seeing the numbers as well. Cheers on your success and continued success! I hope to meet with you and learn from your experiences! 

Hello,

Does anyone know of a solid property manager in Sheboygan WI?

Thank you!

Hello,

I have connections to a banker who will do cash out refinance for people in the Milwaukee Area. PM me for details and if you have any connections back regarding deals out there available. 

Not a problem! Good luck!!