All Forum Posts by: Nathan Hui

@Brian Sparr

Very helpful, leveraging my money as much possible initially seems to the better bet for me. I’m not counting on the cash flow for any of my bills, I just want to keep investing.

The only caveat in my position is that the FHA may be limiting me for future investments because I will need 15% equity to finance out into a conventional loan. Then again 20% down will drain my capital initially but I able to obtain a FHA fairly easily down the road.

Background: Looking to house hack a multi family 2-4 unit.

Two financing options: Conventional 20% down vs FHA3.5%

When I analyze these properties I am realizing a theme. Higher down payments are allowing for higher cash flow rates but diminished Cash on Cash ROI. Lower down payments are yielding lower cash flow with excellent cash on cash ROI.

Is there a superior metric to follow? Cash flow vs ROI?

Currently under contract for a duplex with many maintenance issues. I have completed an extensive inspection with National property Inspections and now I need to get an estimate for the price tag of all these items. If you or anyone you know is a GC looking for work please contact me by phone with my number below. This post is time sensitive as my due diligence period has nearly ended. 

@Jackson Long I don't know of an app like this but I think that is a great idea. 

@Nathan Gesner and @William C.  Thanks! This information is gold.

I requested these documents about seven days ago and have yet to have received anything. With only a week left of due diligence and having not completed the physical inspection (waiting for the docs), should I be concerned? 

Hello BP Community, 

I need your help. 

I am currently under contract for a duplex. My intention is to house hack for a period of time while I take a crash course in land lording and renovating. Both units are currently leased and my intention is to move into the unit that has the lease that ends in April of next year. Fortunately, the unit I would be moving into needs more work and is also currently leased out for less per month. The preliminary numbers look good so far. My due diligence period is 15 days, ending December 13, 2017. I have already found a good inspector that is trusted and used by local investors in my area. I am planning on doing my inspection following the review of documents. This is my first investment property purchase...

My questions are: 

What documents should I requests from the owner, property manager, and local municipality? 

What information is essential for me to gather and why? 

This process is certainly intimidating for me and I want to be sure not to miss anything important. Any information/tips would be greatly appreciated! 

Thanks,

- Nathan 

@Julie Kern, I sent you a colleague request. Thanks! 

Excellent, I will give him a call.

Thanks for the reference @Sergiu Ionita!

I currently have a duplex under contract in Acworth, GA. I have already been pre-approved for a FHA loan up to 250k with a lender. I have gained access to additional capital and I am interested in getting estimates for conventional loan rates. I am purchasing a duplex and have intentions to owner occupy while renovating on side of the duplex. Please feel free to contact me by phone, email, or through BP.

Currently under contract with a Duplex home in Acworth, GA. Looking for an experienced inspector to have home evaluated. Due diligence period ends December 12th, 2017.