All Forum Posts by: Jerell Edmonds

With the high housing market in the past few years, house-hacking and living "rent free" is very tough almost everywhere in the country, especially if you are planning on putting <20% down (higher mortgage payments + PMI). FHA is only really the better option for poor credit - otherwise a 5% down conventional loan is cheaper and less stringent.

So true I mean rent free would be #1 goal but I can make do with half my living cut down . I might lean towards the 5% conventional at this point

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Quote from @Greg Kasmer:

@Jerell Edmonds - Would you girlfriend be buying the multi or you? Sounds like she would be buying in her name, but you would co-sign? I bought a multifamily property that was undervalued, so working on renovations and improvements now. My goal would be to get a new loan early next year and pull out some of the cash in order to go find my next multiunit. Good Luck!

Yes in her name but i would just co sign it cause my credit is better . She would be first time buyer so hopefully there will be a grant available at that time . And thank you for the advice hope your MF is moving good !

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Hey BP. I'm looking to get my next investment property next year . My strategy is house hacking /buy and hold. I recently got my gf into the idea of investing and she agrees on finding a 4plex or 3unit . The only issue is her credit but mines is very good I have a 750 so I was going to co sign so she can get approved so my question is would the buying power be low or would it fall under me ? We plan on using FHA and hopefully there will be some first time buyer grants out there next year . The only way ill get a 4plex is if we live rent free that's my goal moving forward for the next investment. pt 2 How did everyone else get their second property ?

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This is amazing good for you man! I might have try to something like this for my next investment

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You can use ezlandlord forms .com does everything for

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Chicago, Illinois

15% down ? that's amazing but what's the rate ?

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Quote from @Brett Synicky:

@Martin Kim many of our clients invest in private funds that loan to fix and flippers as an example. You can get well over 5% doing this. $30k is enough to get started.

How do I find these I've heard about them I have about 60k liquid

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I'm in RI I felt the same but I'm not chasing cash flow anymore. I'm mainly house hacking to get equity build up so i can use that for my next investment .

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Newark, New Jersey

wow amazing ! My first house is a 3 family but keeping it as a 2 family right now . I want to scale that's my goal . I want 100-500 doors !

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great question cant wait for feedback currently in the same boat

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Detroit, Michigan

All Forum Posts by: Jerell Edmonds

Jerell Edmonds has started 21 posts and replied 115 times.

Post: MF Investing 2nd property

Post: MF Investing 2nd property

Post: MF Investing 2nd property

Post: First-Time Investor: House Hacking with a 5/1 ARM?

Post: Lease Agreement Month to Month

Post: Rookie Multi Family investor utilizes low 15% down payment DSCR loan on 4-Plex

Post: Not yet accredited, any actionable RE investment strategies?

Post: Multi family investment

Post: Getting your second investment

Post: Planning My First BRRRR - All Cash or Finance