All Forum Posts by: Engels Rojas

I would have actually appreciated the person contacting the lender. I can see how on paper without research my offer wasn't good at all. Why is FHA such a big disadvantage? This 2 family house was 'turn key' both units, with one of the units already rented.

No apology necessary. That's exactly why I asked, I appreciate the perspective. Thanks to people like you and all the material I keep reading on this website, I keep getting more excited about investing in Real Estate.

FHA Mortgage, the house didn't show any red flags that would've interfered with an FHA mortgage. Pre-approved by one of the 'best' credit unions in this area. The reason for the month delay, is that I'm getting help from a matching program, where every dollar I put into an account gets match with $4. So the extra month was needed to complete my downpayment/closing. The transaction itself should've been smooth.

Good morning ladies and gentlemen,
Back in early February I put an offer in for a two family. My offer was asking price, but my closing day would've had to be a month longer than usual. Well my offer was rejected. The property closed last week for $12K less than my offer. I'm still really new to this (haven't closed my first deal yet) so, am I missing something? Is a month too much of a deterrent, what are some things that will let you (as a seller) pass on $12K?

I second Ray. If you're able to find a 2+ family, where you will be able to do an owner occupy, then you can definitely do FHA mortgage and even 203K.

Good evening everyone,
Bare with, while I explaing this. So, I'm currently looking for a duplex mayber 3 family property. When I first started working with my realtor, he informed me that the foreclosures in the area, are simply within the listing on their company website, but they aren't labeled as such. So yesterday, I decided to google something to the effect of "where do I find foreclosure listings" and what I got in return was a bunch of websites with an annual fee or bank's REO properties. So, this is when I asked myself "Am I missing something" are these websites charging people for these already available listings? Or are foreclosures getting picked up before they actually making to the realtors or broker's websites?

Just noticed on my profile I have "get a mentor" as part of what I'm looking for or goals. Now I read "...that they are looking for a mentor to teach them all they know but offer nothing in return but the privilege of working with them." In this guide http://www.biggerpockets.com/real-estate-investing/education Just letting you guys know it wasn't my intention to come off in that manner.

Thanks David, addiction is definitely the word I would use.
Thank you Joshua, heard the podcast yesterday through Stitcher, A LOT of stuff went over my head, so I'll be listening to it several more times while taking notes.
Thanks you Jenkins.

Hello everyone,
My name is Engels Rojas. I am 30 years old with a full time job, looking to get into the Real Estate Investment market. My goal is for steady cash flow, so it appears Buy and Hold is what I should be aiming for. I'm in the Albany, NY area, and am currently looking for a 2 family to begin both my home ownership experience and my real estate investment experience. I've been reading several post throughout the website these two have been extremely helpful http://www.biggerpockets.com/real-estate-investing/ and http://www.biggerpockets.com/renewsblog/2010/06/30/introduction-to-real-estate-analysis-investing/ I'm really looking forward to finally starting this chapter of my life.