All Forum Posts by: Jon E.

Hello!

Need some help thinking through two scenarios since I am new to all of this.

The first is buying a condo (about $175k with $250 HOA), and living in it for about 5 years then renting it out afterwards. The monthly payments would be about $1250 if I put down 10% or $1100 if I put down 20%. Comparable rents in the area vary from $1200-$1400. The condo has water included.

The other is renting out a place $1200-1400, and trying to invest out of state. 

From a rental investment standpoint, the property isn't something worth pursuing, given the low cash flow (if lucky, assessments and increases won't push this to negative cash flow). 

But since I would be occupying it for about 5 years, contributing my would-be rent payments towards the mortgage, does that change things?

Wondering how many of you have submitted financial info via accountchek and if it is safe.

Hello! I am new to this, and looking to purchase a single family, duplex, or triplex to house hack, or live and flip. Looking to purchase with an FHA loan.

Wondering what it looks like to get on a real estate agents list so I can get email updates on new properties. Do I need to send over criteria? Share max purchase price for each type of home, neighborhood requirements and stuff like that?

Any help would be great!

Hey!

I am planning on moving to another state in a year, and was considering house hacking with an FHA loan.

I just resigned a lease to rent my current place for a year, which is one of the reasons for the one year timeline. 

My main question is, if I find a place that I want to purchase, since I started casually searching, is there any workaround to not have to move in within the specified 60 days for a FHA loan?

Looking to move to Oregon (Salem is looking affordable) and would like to buy a MFP to live in and rent out the other units. Probably going to use a FHA loan for this as well. Wondering if anyone could share any investor friendly real estate agents in Salem. Any other resources would be helpful as well!

Hey! So if I have a property, let's say the purchase price was $25,000 and it was bought with cash so fully owned. Then has appreciated to $100,000 now, what are my options to pull cash on this.

The reason for pulling the money out is for other ventures/investments. But the last thing I want to do is sell because the tenants are family members. Maybe some sort of fixed HELOC? and use the rent it is pulling to cover those monthly payments.

Wondering if there are any other options out there I am blanking on...

Any help is appreciated!