All Forum Posts by: Joe Threats

What's the address?

send me comps please [email protected]

@Brandon Sturgill thanks for your advice, you're right HML would eat up alot and could be risky. This one just hit the market and its been month since I've seen anything that was even worth looking at as far as house hacking goes. the location it nice as well since its right by the airport we could airbnb the 1/1 studio thats apart of it house. Not to mention the other unit can easy rent for 1.1k per month.

My wife and I have come across a Triplex at a reasonable price of 215k Its livable right now but if we put a few bucks in to it I feel the value can appraise for more. Since we were in the plans of rehabbing a property this year we've been approved for a Hard Money Loan that could cover the cost of the home as well as the rehab. Our first plan was to use and FHA 203k loan but being that my wife was a house wife and we were living on one income pretty much the last 3 years my credit took a BIG hit. I have a house in Texas I'm currently leasing to a tenant which is pretty much most of my debt including 10k in credit card debt and my wife's vehicle.

I guess my question is what would be my best route in purchasing this home so we can house hack if I can't get a FHA loan right now due to my credit which should be boosted up in the next 30 to 45 days or so. The hard money lender would want to see the ARV which I would be kind of hard to pull comps on being that it's a triplex.

I know it can be a game changer for us if we are able to purchase it, or should I say WHEN we purchase it. I just need to know the best route in doing so. My wife score is good but just started working 2 months ago. 

Should I  find a buy and hold lender then refi once my credit gets better?  Thanks in advance for the advice!

  WARREN BUFFETT??👆🏾🤔

@Alex Young Thank you.... that's exactly why I made this post. I know I want to have a smooth process and prepared as much as possible.  

Do you have any more properties in Atlanta? 

Do you need help finding a cash buyer??