All Forum Posts by: John Felix Perez

I had a mentor ask me a very important question. What Do You Want? At first I wanted a cash flowing investment property and to get as many as I could as fast as I could. At the time, living with my family of 5 in my Dad’s house, a 4 bedroom 2 bath house with over 10 people, was good for me. I hit the ground running looking for a property that hit the 1% rule. In my market “Guam” that is a tall order. I also neglected the fact that maybe my wife of thirteen-years had other plans. She wanted us to get into a place of own. We ended up sitting down and compromising with both our ideas and found a median; house hacking a duplex. I’m proud to say we did it, knowing what you want, and if you have a spouse or partner what they want and having a vision that aligns with your goals is essential not only in real estate investing but in life as well.

Good Afternoon @Joseph Firmin,

   I took your advice and have been talking to multiple lenders.  I want to get started but, construction cost for material not to mention labor cost are so high right now.   We are going to move forward with a owner occupied small multi.  In search of at least 4/2 on one side to start.  

John Felix

@Joseph Firmin thank you so much! Moving forward I will definitely talk to more than just local banks! Stay awsome and thanks again!

So I had a down payment saved up and I started to look on the MLS for a potential Cash flowing Property. I went in thinking that I could do 20% down on a 30yr fixed rate on said property. Since I don't need a place to stay because we are happy to stay right where we are rent free. I wanted to start with an investment that is cheaper but still cash flowing such as an condo or apartment. I spoke with many different banks since it was not owner occupied I would have to go up to 25% on a 15yr fluctuating rates . This put a dapper on any cash flow potential I reached out but a lot of Credit unions or bigger banks prefer owner occupied situations. Any advice?

@Jimmy Chao that’s a good question. Why not house hack and buy a duplex for low to no money down live on one side rent out the other. 

Does anyone have experience building a Duplex and house hacking one side after construction? Since it is more expensive than a traditional home, what factors should I look for when trying to get a construction loan?  I will update my progress in my other post.

@Marlen Weber this is the first time using the app to reply please excuse the learning curve . I will definitely keep you gals and guys posted.

@Marlen Weber

Good Evening BP!

Does anyone have experience building Multi-family? I am on the planning stage getting blueprints finalized gonna house hack a duplex. Next is looking for contractor then off to financing.  Any advice would be awesome.