All Forum Posts by: Matthew French
Matthew French has started 1 posts and replied 8 times.
Originally posted by @Steve K.:
@Matthew French There are bank that would do 10% and That was in the past. In current climate that would be difficult. You can get a Commercial loan, typically .5 to 1 point higher than residential. There is a balloon at end of 5, 7 or 10 year. They amortize that at the end of 15, 20, 25 or 30 year. Commercial portfolio loans are sometimes flexible, banks may help you borrow some money from elsewhere for the down payment. Look into local banks and Credit Unions and stay away from Large banks.
good advice, ill try to chat with a credit union here soon!
Originally posted by @Ramon Vazquez:
@Matthew French I would try to BRRRR your next purchase as much as possible to reuse that money twice or three times in 2021
im not confident in my market to get pricing low enough to have that work, also i dont understand the avenues to get the original money for the home
Originally posted by @Lamont Chen:
@Matthew French You can probably try to buy another 4 plex as owner occupied since you lived at your current residence for little over a year and then repeat for 2022. You can check with a local mortgage lender to see if this will work.
What would that down payment look like? I assume 20% because I've already used my first time home buyer 3.5%?
this is a good question! following!
Hello!
I currently have one 4plex that I’ve had for about 14 months.
I have saved up around $50,000 more dollars to use to invest into something else this spring. How should I best use that money to get into some more units?
I have a goal of 10 units by end of 2022. Currently with 4, I hope this is possible.
In my market, $500,000 gets a decent 4 plex, and $400,000 get a nice duplex. Tons of $120,000 condos. Average rent for any 2br/1ba $1150/mo.
Post: Starting my LLC, What avenues should I take?
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following thread..