All Forum Posts by: Michael Moikeha

Depending on how long you plan on holding, you may be able to get a loan with a small down payment and a low interest rate in a 5/1 ARM.

Call around to your local banks and credit unions and see what type of rates they can offer on ARM's with the lowest down payment option.

Me and my business partner found a CU that would offer 2.99% with 5% down on a 5/1 ARM, and we are co-signing on the lease.

May be a potential option for you depending on what your goals are.

If you have the cash, I would suggest going for something a little larger than just duplexes. The bigger you go, the better price per door, but you can still typically charge just as much as you would for a duplex.

@Kimberly T.

The percentage is just a rule of thumb. Generally in MF its 40%-50%.

When you go to sell the place, if you are saying that you only have 20% expenses, then your potential buyers are going to be wondering about deferred maintenance.

This is a great tool for general networking, and national responses to questions.

The best place to find information on local markets, and to network with local people is through a local REI group in your area. By networking at those groups, you will be able to find people who are extremely knowledgeable about the area, and who knows, you may even find a place to hang your license.

@Jim Bentley

This seems like the most logical solution to the problem! I love it!

Congrats! Its always exciting to bring down your first deal!

@Ali Far

It was a local CU, Advantis, and it included duplexes up to four units. I called around and visited many different offices before I came across this one!

welcome to BP!

I would also suggest that you check out a local REI group, as that will also be a great place to network, and find people who know the market you are planing to invest in, and they are typically more than willing to pass along useful information to you.

I would asking suggest going MF. That is where the cash flow is, and to best utilize the $100k, you want to leverage it across a larger property vs buying outright.

Another options is to make a minimum downpayment of $20k on 5 places, and see a higher cash flow, even though you will be paying more towards debt services, you will be making more monthly.

Welcome to BP!

This is a great place to gain knowledge.

I would also suggest seeking out a local REI group where you can network with local investors who know your market.

Good luck in your investing goals!