All Forum Posts by: Jose A. burgos

Finally making the move onto rental properties. Although technically I’ve already sold a property (my home back in MA) I never thought about it as an investment, to me it was just selling a home. Seeing how well that investment turned out for me I know want to get into rental properties. I’m currently reading Brandon’s book on rental properties. And wanted to officially jump in the forum for further education.

and yeah I already have a question haha.

After all debt has been paid to zero, and all safety buckets filled, I have about 20% down for a 100k property left. Should I go forward looking for deals, or stack a bit more to have a padding and the 20%?

Thanks

I'd look into house hacking, it's a great way to buy an investment property with much less than 20% down!

It is! Problem is, I don’t get the benefits of FHA etc, I’ve already had a property

FHA loans aren't limited to individuals that already own a property. The rule is you can only have one FHA loan at a time. You can own 5 properties and still get an FHA loan. It's a common misconception.

What are the rules with living in a property? Say I wanted to rent out both sides right away, can I or do I have to live it in for a length of time? @Conner Olsen

0 Votes

Austin, Texas

Quote from @David Mackin:

Quote from @Jose A. burgos:

Quote from @Conner Olsen:

Quote from @Jose A. burgos:

Quote from @Conner Olsen:

Quote from @Jose A. burgos:

Hi all,

and yeah I already have a question haha.

Thanks

I'd look into house hacking, it's a great way to buy an investment property with much less than 20% down!

It is! Problem is, I don’t get the benefits of FHA etc, I’ve already had a property

Misconception indeed! Besides a common google search, is there a way tk find out if I qualify?

If you talk to a Lender, they should be able to give you a budget for what you can buy. This would include a good estimate to what the monthly payment would be, which can then help you with analyzing deals.

That makes sense, thanks for the input!

0 Votes

Austin, Texas

Quote from @Conner Olsen:

Quote from @Jose A. burgos:

Quote from @Conner Olsen:

Quote from @Jose A. burgos:

Hi all,

and yeah I already have a question haha.

Thanks

I'd look into house hacking, it's a great way to buy an investment property with much less than 20% down!

It is! Problem is, I don’t get the benefits of FHA etc, I’ve already had a property

Misconception indeed! Besides a common google search, is there a way tk find out if I qualify?

0 Votes

Austin, Texas

Quote from @Conner Olsen:

Quote from @Jose A. burgos:

Hi all,

and yeah I already have a question haha.

Thanks

I'd look into house hacking, it's a great way to buy an investment property with much less than 20% down!

It is! Problem is, I don’t get the benefits of FHA etc, I’ve already had a property

0 Votes

Austin, Texas

Quote from @Steve Vaughan:

Quote from @Jose A. burgos:

Aall debt has been paid to zero, and all safety buckets filled, I have about 20% down for a 100k property left. Should I go forward looking for deals, or stack a bit more to have a padding and the 20%?

Congrats on being out of debt with safety buckets, Jose. That's huge.
Tired landlords may be willing to seller finance. Consider that as a buying strategy as well as you continue to learn and save.

I’ve been reading a bout this strategy. For sure sounds like a great way to start. Any tips on finding good candidates?

0 Votes

Austin, Texas