All Forum Posts by: Jacob Casarez

Absolutely @Quynh Larimer, it's possible! And as far as whether to do a rental property or fixer upper it depends on your niche. Look closely in and around your area because those deals are out there! I will say the best rule of thumb here is to ensure you buy right.  80% of the property value is said to be a good rule of thumb. Good luck :)

Invest in a personal residence. House hack using FHA financing. Great way to get started in your early 20's. Good Luck :)

Awesome input, thanks for your help @Dave Foster! :)

Yes @Dave Foster, I am aware of taking advantage of the exemption once every 2 years -- as I mentioned above that is what I am in the process of doing. I was just wondering if there was a quicker way to house-hack personal resident rental deals instead of using up 2 years of my life each time? 

Thanks guys, I am just trying to map out another strategy for the next owner occupied deal. I am in the process of that 2 year plan @Dave Foster, just 6 months left to go! So we are certain that there is no way to rollover gain on personal residence say if you rented out rooms in the Owner occupied property, right?

Is there any way to continue to use FHA financing for buy & hold 4 plex deals after the first 12 months of the first deal? Perhaps a re-fi or something into a new loan would allow, etc?? Each newly aquired multi would obviously be owner occupied for the first 12 months to meet FHA requirements. Any info helps, thanks!

Can you 1031 exchange an owner occupied investment that is FHA financed?

Absolutelty not! Everything you need to know can be found on this wonderful website. Keep asking questions and seeking out those who have what you want. Good luck :)

@Joe Villeneuve How important is it to use an "investor's agent" when looking at investment properties? I looked at two multi's last week and the agent that got me into the units does not invest in real estate themselves and started telling me their "two cents" about the properties. I really would feel more comfortable using an REA that invests themselves. How important is this? Or perhaps I am exaggerating -- look forward to hearing your response. Thanks

I agree with the other landlords here saying that they may never pay @Rumen Mladenov. BUT if you can get it sent to judgement it will make their life a living hell until they pay. I know because I have been on the other end of a medical judgement when I was a teenager and they HOUNDED me until they got their money. It impacts everything you try to do from getting any loan, credit to a living residence. People need to learn that there are consequences for doing stuff like this. Many great investors like Warren Buffett and Donald Trump would say "fight back!" Good luck :)