All Forum Posts by: Matthew Mason

Watson,

Give PENFED CREDIT UNION a ring.

-Matt 

Hey Michael,  there's a lot of debate out there between starting small or GOING BIG. I think it really depends on your goals and idea of how to you want to get there...   as far as financing your looking at commercial (5+) with 20% down or residential (4-) with 25%. I wouldn't spend time on anything less than three units. A lot of people say go BIG off the bat. While not a bad idea tho think big, I see great value getting your feet wet with a couple smaller, (3/4 units)

Read up as much as you can and look at a few deals a day. You'll be ready when you find one!

Leo, Curious as to your findings over the past few years? Any luck with a seller carryback? 

Nice meeting everyone! Thanks for setting this up Dan, it was a good time.   Looking forward to future meetings!

Hey Connor, I have a few multifamily buildings in Glens Falls and am very in tune with the area. I would suggest you look to purchase a 3 or 4 family using either a FHA loan or Trustco bank. They will lend at 89.5% LTV with no PMI on 3/4 unit OO residence.

Feel free to reach out if you ever have any questions or wanna grab a coffee. 

Not that this is a deal worth perusing but if so my question is this- At such a low purchase price why wouldn't you go conventional and just drop 25% into the deal....? If you dont currently have 25% of the 44m they are asking  you shouldn't be buying.    There seems to  be a buzz around little or no money down, money down = equity up.   This deal seems like it would be a lot of work overall for a very low reward.  Save your money and find something that will through you more than a grand or two a year. Focus on your real estate sales as an agent. A single commission can bank you 5 times what this property will net you in 12 months!  Put your time energy and effort into stacking up your bills and buy a deal that will FLOW :) 

@Joe Villeneuve Point being read a few books rather than hop on here and throw a few buzwords around while not having the slightest clue about the most basic concepts that can be learned in a matter of minutes of research. 

Hate to be negative but Reading this gives me a headache.... Kind of annoying how people hop on this site and make posts before taking even a moment to read an article or book or listen to podcast. "long distance house hack FHA BRRRR"

Read a few books pal then come back and we are happy to have meaningful conversation....

Cheers

@Ryan Betzing  enjoy the 2400 taxes...... we pay triple that up here in NYS.

Look at MF to help with multipul streams of income.

Hello all! If you are looking conventional Fannie Freddie check out the two matrix's below. local portfolio lenders will have different terms most likely.   Also, If you are looking for a great LO reach out to @Jerry Padilla hes helped me with a couple buys and knows his stuff!

Cheers!

https://www.fanniemae.com/content/eligibility_info...

http://www.freddiemac.com/singlefamily/factsheets/...