All Forum Posts by: Jordan Alquran
Jordan Alquran has started 1 posts and replied 3 times.
Post: New buy and hold investor LLC questions, and general advice.
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Congratulations!
I too, just got a 4 unit plex under contract. It’s my first deal. Here for the responses as well! Good luck
Post: FIRST DEAL questions!! Banks or Hard money lender?
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I might add, I can satisfy the minimum 20% down no problem, or could increase the down payment if needed. Do not know if it does need work but comps are placing it in that range ^
Post: FIRST DEAL questions!! Banks or Hard money lender?
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Hello everyone!
Thank you for taking the time to read this post, this is my first one! My name is Jordan, out of NE Indiana, and I'm getting ready to purchase a 4 plex rental property. I'm looking for some advice, as I CANNOT pass up on this deal. 4 unit property for $50k. Possible gross income of $2200-2300. ARV: $65-72k.
My situation is that I currently have a mortgage, with some student loans, have never missed any payments, and have a credit score of around 640. I make roughly 40k a year. Do you think a bank would still give me another mortgage or should I try hard money lenders? Thank you in advance!!