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All Forum Posts by: Kerry Pangan

Kerry Pangan has started 11 posts and replied 23 times.

Post: Waiting till Two year work history to buy a duplex

Kerry PanganPosted
  • Rental Property Investor
  • Grand Rapids, MI
  • Posts 25
  • Votes 9

@Cody Neumann thanks for the advice! No I have not been proactive in searching for other banks since most of them will likely need two years of work experience. I am though will try to get into meet up with other new investors in my area. I just need a way to link with new investors and learn from them as well.

Post: Waiting till Two year work history to buy a duplex

Kerry PanganPosted
  • Rental Property Investor
  • Grand Rapids, MI
  • Posts 25
  • Votes 9

I'm 24 just got out a CNC trade school live with my dad. I had enough money saved for a down for a duplex but with only 4 months into my new job my local bank requires 2 solid years at my work. I tried using my dad as a co-signer for his work history but they would require a 15% down compared to a regular 3.5% FHA. I just decided to go wait 20 months until i'm ready. I'm usually impatient but decided by the time that that two years roles around and I go bank to the bank I will just have more money saved for anything that comes my way. I'll be working at my current job thinking everyday I DO NOT WORK FOR MONEY.

Post: Questions on Real Estate as a beginner

Kerry PanganPosted
  • Rental Property Investor
  • Grand Rapids, MI
  • Posts 25
  • Votes 9

Hello, I am new to all of this and I've been doing my research on how to house hack and the road to reach my goal. I just had a couple questions. I had questions about how do people buy houses so quickly just after purchasing a house? And also I learned about how I just can't buy a 6 bedroom house rent all the rooms and sleep in the living room. I can't do it because I just realized that the city I want to buy a house in has a occupancy law that only 4 unrelated people are allowed within a single family house. Is there ways to rent more rooms or is renting out 3/4 rooms pretty profitable? I just have a lot of general questions like these if people here want to get together =)