All Forum Posts by: Michael Wilson

@Jaron Walling

I understand there a few small criteria that have to be met to do a 401k Loan but paying yourself back interest seems much more intelligent than paying someone else interest(assuming you follow the required criteria). Also my 401k loan is only for $4100 which is pretty small in the grand scheme of things. 

@David Avetisyan

I really appreciate it, I will be requesting an Estopple certificate if my counter off mover further. Thank you very much!

@Rodney Wright

I am looking at buying my first 4plex. Current Landlord pays all utilities including heat. If my offer is accepted I was looking at options to have a plumber come out and do whatever needs to be done (HVAC?) for each of my units to meter the heat separately. Then I could charge the heat to tenants and save $200-$300 a month depending on the time of year. 

Thoughts? Could be an option for you and I was hoping to hear what others think about this as well.

I have 12k and am looking to get started in ND. I am going to take out a 401k loan as well as look at an FHA loan. Just have to get a little more creative. I looked at doing this in December, but had 1k cash so couldn't do it.

Hey Lee,

I appreciate it! I found 4 properties that we will be looking at tomorrow.

Thank you, that helps a lot, I just realized that is something that I should know going into this!I am moving pretty soon here. I appreciate all the guidance you have provided me and I am quite excited to get started with real estate! 

This is what I have been preparing for, now it is time to do it!

Hello,

I am looking to buy my first property. I am meeting with my agent tomorrow who was referred to me by a friend. I have never looked at a property in person before and was wondering what to look for when inspecting the property? I am looking at a few multifamily properties tomorrow. What types of questions should I ask my agent?  Thank you in advance for your time. 

I am finally taking the leap into this! I want to close on a property by June 1st!

I am ideally looking for a multifamily home, but where I am moving to there are only 2 on realtor.com I might end up with a SFH. My question is in the description it says

"The Denver Home Ownership Center has extended the FHA $100 Down Sales Incentive indefinitely for all HUD REO offers accepted. Owner Occupant purchasers utilizing FHA-insured financing (including the FHA 203(k) Rehabilitation Program)"

I am looking to do a FHA and live in the property for a year if I get a SFH. What exactly does the above statement mean? A quick google search makes it look like this property was failed to be sold at a foreclosure auction and I am eligible to buy it with an FHA?

@John Woodrich I will reach out to Tim, I appreciate that! Thank you for taking the time to look into this, I searched awhile last night and found the same one and analyzed it. Rogers deal I am new to analyzing deals, but am trying to do one every day. Would you mind telling me what you think of that analysis?

I came up with the purchase price based off Property estimated tax value for 2018.  After re analzying here is the second attempt in the right direction. Rogers Deal(2). It looks like a bad deal, but I am new at analzying deals.

Hey Lee,

I am looking for one out in Rogers, MN. I just called in to my bank to see if I was pre approved for an FHA loan and was not approved, due to having no money down. By March I should be able to take care of this.