All Forum Posts by: Karisha Young

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@Adrienne Patel I'm sorry for the late response, I don't get on as much as I should.  There are some substantial fees to get started but I was willing to bite the bullet to not manage myself.  The monthly charge for their services are reasonable.  I pay around 150 per month.  The vendors they use for maintenance and lawn care can be costly so you might want to look around and decide if you want to find your own.  Their customer service is A+ and they want to help you build your portfolio and business. 

@Chris Reyes my great grandparents who raised me, owned their home and a bit of land. When they passed, the family sold it for cheap instead of keeping it, improving it and using it build. I wanted to own my own home, use it to acquire more and teach my kids how to do the same once I’m gone. Ending “generational curses” is what I’m trying to do.

@Justin Marshall thank you for your response. Increasing my credit score, making a few renovations and trying to switch to conventional is what Im going to do.

I talked to my lender and they stated that I wouldn't be able to get the 2nd fha mortgage because my DTI is too high, right now, since I'm not being able to use rent collected, as income for 2 years.

 Thank you, I am going to reach out to my current lender, have a conversation about the exception and go from there.  

@Rene Owczarski thank you for the information.

I was planning to keep the duplex in Des Moines and rent it out.

I wasn’t sure if there was a deadline on how long the 2nd mortgage is available to you once you relocate.

This is definitely a starting point and I appreciate it.

Has anyone done a 2nd fha mortgage?

@Jennifer Pauyo I just started but, I’m Here. Des Moines, IA

I recently closed on my first investment property in September. It's a Duplex in Des Moines, IA and I purchased with an FHA loan. I've just been promoted and will have to relocate to St Louis, MO by April 2021. I know that there is a possibility to have 2 FHA mortgages if you have to relocate because of your job but I don't know specifics.

Does anyone know if there Is there a time limit on that exception to give me the chance to save another 3.5% and closing costs? I wanted to use the opportunity to pick up another multi-family with a low down payment.

Also, I have no clue about the St Louis market...

Any and all replies are welcomed and appreciated.

Thank you

I decided to go with RPM.  Their GM called me the same day I submitted my initial inquiry.

I am closing on a duplex at the end of the month and was thinking about property management as well since I’m a new investor.  Sounds like I should be in contact with my realtor about it.  Correct?

If someone wouldn’t mind  commenting or messaging me about companies to shy away from that would be greatly appreciated.

S.N - This process is new and exciting but I’m honestly kind of scared to finally get this thing going.