All Forum Posts by: James Boyer

On another thread someone suggested landlord station. I used it last week to screen a tenant, worked well.

Thanks Mindy, I had no idea what house hacking was until I signed up here yesterday. I'm definitely keeping this realtor around, him and his wife are actually coming over to the house for dinner tonight. I have gave him 2 solid referrals as well, both should be closing soon.

Next on the agenda is paying down my credit cards and saving more money in 2016. Then buy a rental property, either a single family or 4 plex, then do it again.

I closed on my 1st house 2 months ago. 100% financing with no PMI through Key bank. My rate is 4.625. I did wind up around $3,300 out of pocket, $1,000 EMD and a $2,200 sewer bill. I do know of a local credit union doing the same type of deal. These loans are out there but as suggested above the rate might be a little higher, you'll pay either way. Best of luck ! JB

Hey thanks Wayne. Here's another post with info about my house https://www.biggerpockets.com/forums/223/topics/246635-1st-house-marathon-short-sale-hacked-cash-cow

Since I'm new to BP I figured I should share the story on my first house I closed on a couple months ago . I have an amazing realtor with 25 plus years experience and has worked as a lender as well. I was stuck on a  800 sq ft 3/1 on a culdesac. He finds a short sale listed as cash only and calls me. It's boarded up due to squatters and damaged from a marijuana grow.  Over 2100 sq ft 4 bed room 2 bath including a 2 car garage that was converted into living space with permits. It was completely remodeled 9 years ago with new everything, plumbing, flooring, kitchen, bathrooms ect. 

He convinced the listing agent to take a rehab loan offer which would end in a higher net than any cash guys we're offering. We got it accepted and took about 6 months to get it closed.  

About 12k and many hours of labor between me, the wife and a week with a contractor the house is pretty dialed. I have the converted garage rented out for 1000 which is almost what my mortgage payment is.  We're living almost for free and have around 75k in equity!

Hello, I'm new to BP. I'm 33 and recently bought my first house which is hacked.