All Forum Posts by: Hunter Waterman

I'm interested in investing in a 3+ unit property in Jacksonville that has below market rent and could use a little improvement. Can anyone recommend a Jacksonville property manager? They ideally would be able to help me find and analyze potential investments, and help make improvements to the property once acquired. Thanks 

Pawtucket Credit Union wants you to have a zero balance at the end of every year which won't work for me. I'll try Navigant Credit Union and Coastway. 

This is definitely hard to find because most banks don't accept non owner occupied collateral. 

Thanks, but they don't do it for non owner occupied unless they are already the first lender. I have a mortgage on the property with a different bank. 

I'm looking to get a HELOC on a non-owner occupied 4 unit investment property in Rhode Island. Does anyone know of any lenders that would do this?

I live in NJ and am looking to purchase a 4 unit in the NEPA area. Scranton and Wilkes-Barre look great at first glance. Does someone have a specific area in these cities that they recommend? Also can someone recommend a property manager who is also a multi unit investor and realtor? I want someone who wants to make me happy so I continue working with him/her in the future. Thanks all

I'm looking to purchase my first home and I have good credit. Here is my plan: 

1. 1. Put down 3.5% and receive an FHA loan to purchase a multifamily home with 3 units and 3 bedrooms per unit
2. 2. Live in one of the bedrooms in one of the units and rent out the rest of the 8 bedrooms. Also, hire a property management company because I already have a full time job
3. 3. Move out of the home after 12 months and rent out my old bedroom

After researching FHA loans, I've found that some people believe this plan to be fraudulent while others say that I can carry out my plan as long as I live in the home for 12 months.

Can someone else weigh in? Should I tell the bank my plan??