All Forum Posts by: Justin Jolliffe

I want to upgrade my membership but I want to find a coupon of course! Are there any that you know of that I could use?

My investing partner and I are looking to attend a RE auction to find great deals on multifamily properties in MA and NH. Any advice on how to go about doing this/where to start?

Whatever you do, do not use Greg Lemay Consulting for your home inspection. I had to report him to the better business bureau! He took my money and didn't answer calls for a week. He was so late delivering the inspection report that I had no choice but to sign the P&S without it. You can't reach him because his voicemail is always full! Terrible way to do business. Stay away!

Hey Felipe, Let's connect. I am also in Worcester County just beginning my investing career, but maybe we could learn a few things together. Two minds are better than one!

I was told that my PMI payment will be ~$200-$250 per month with the FHA Loan, but I'm not sure how reliable the source is.

JP P. Great advice! And the rent is $3,600 spread across all 3 units, so the rent from the other 2 units is only $2,400. I plan to rent out the other 2 bedrooms in my unit for $500 each when I move in. Fortunately there are 2 colleges and a hospital within 3 miles of the property so if I can't get young medical professionals in with me I will move to college kids. I am 24 right now so I am fine with living with people in my age group!

Just talked to a lender in MA who said the 5% down conventional would let me call the servicer once I reach 20% to drop the PMI. If I don't call, they will wait until 22% and drop it automatically.

Steve Bracero yes I am looking at 5% conventional. I will definitely look at renovations after work and on the weekends to try and bring the value of the property up before I get it appraised again. Seems like a great tactic!

Great info everyone! Given all of this advice, and the fact that interest rates are so low, I'm leaning towards the 5% down option where I won't need to refinance in the future (when interest rates are higher) to eliminate PMI.

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