All Forum Posts by: Mitch Reaume

@Sean Blomquist First investment property*

@Thomas S. Oooook so when I'm projecting our expenses, I've been doing it wrong assuming that I will need homeowners AND renter's. I will only need renters. Am I understanding that rightly? Thanks for your help!

We're doing some financial forecasting as we get ready to purchase our first home ($120k-$150k range) and are trying to project insurances... can someone clarify for me... Do you get a Landlord Insurance Policy IN PLACE OF a Homeowner's Policy, or do you get both?

Any thoughts on what to expect for those types of policies in terms of pricing on a $120k-$150k home?

Thanks in advance!

Great insight @Jeff Dulla, really appreciate it, thank you!

First time investment buyer here... Had 3 mortgage lenders give me a bid on a 30 year fixed rate home for a $150k home with a 20% downpayment. These are the 2 I think are the best offers... hoping someone out there more experienced than myself can help me discern which one is best and explain to me a bit? Thanks in advance!

My friend and I are saving for our first investment property together... We have an LLC set up and are ready to go.

He has never bought a home before... Is there anyway that he could purchase the property (in order to use an FHA loan) and live in it for a year BUT have both of us own it? I know that FHA loans are only for individuals so an LLC couldn't purchase it, but we're wondering if there is anyway between the 2 of us to buy the home together and him get access to the loan? We would obviously share the cost of actually purchasing it... Just trying to see if there is a way that we can take advantage of having an FHA loan available to us?

@Guillaume D. Any tips on the best ways to find off-market homes?  My partner and I are getting close to buying our first investment property (single family) and I'm hoping to find a good off-market offer but am unsure as to how to find them.

After advice from a previous post I did, my wife and I are beginning to look at our first real estate investment... That is buying a duplex/multi-family home and renting out half of it as we live in the other half.

Any recommendations on the best databases or way to find these?  We are wanting to buy one in St. Louis Park, MN.

Kinda daunting beginning the process!

Any additional advice would be welcomed, thanks everyone!

Thank you Jon!  Sorry I tried deleting the earlier one, but couldn't find out how, not trying to spam the forum haha.