All Forum Posts by: Maximillian Doctor

@Kyle Mccaw that's awesome - I'm currently in Fort Worth now and have been doing some research and looking into neighborhoods, etc. for my first investment property...starting to realize strategies such as what you did above (Facebook posts, distressed properties) could be a good way to find a deal in todays market.

Thanks for the confidence boost.

A couple questions: you said 130K was invested in rehab. I assume you got that money from the hard money lender? Also, how long did the rehab take?

-Max

@Brett Hayes I am in Fort Worth right now, and brand new to REI as well; pretty much in same spot as you in having trouble finding anything via the MLS...happy to connect. I've thought about driving for dollars and going to the next couple foreclosure dates (Nov 3rd and Dec 1st).

Let me know if you ever wanna get on the phone and brainstorm ideas.

@Bradley Padula thank you for that - so if I run into a duplex/triplex that I want to house hack, fha could allow me to do so at a lower payment. That’s good to know. Feels good to start seeing the real options I can approach for my first property - thanks for the input!

@Bob Okenwa, Thank you!

Perfect - that's helpful to know; I figured out today that I do have solid credit so I luckily can take the conventional loan route for a first house-hack. I didn't know about the investor loan down-payment ranges; thank you for that information as well.

Thanks, Julio - I appreciate the attestation!

I found out I have the option to go with a Conventional Loan over an FHA for my first house: Single-Family Rental (this would also be my first investment property)

I was thinking I would have to house hack for a year because of the FHA 1-year resident requirement. But, with a Conventional, would I need to still exercise a 1-year residence of the property? OR, could I just rent out the property right away, and avoid the necessity of a house hack?

I still may go the house hack route, but wanted to see what options I can take. It could allow myself to invest in additional properties via BRRRR method a little faster.