All Forum Posts by: Nicholas J. Sciamanda

I am starting my journey to financial freedom and have been reading and networking. Anyways, in reaching out to my loan officer (who I have my current residential mortgage through), I was told that standard terms for beginner investors with their bank is 35% down and a 15 year term. Is this pretty standard when going through a traditional bank?

Thanks,

Nick

Hello all. I'm new to the forum and am getting ready to buy my first income property. I am very excited but also apprehensive. Anyways.....here is my situation. I will be buying a duplex for $250,000, one side is currently occupied and pays $1,450/month and I will be living in the other side. What is the best finance route to go? Conventional with 20% down, FHA, etc? Any and all advice will be greatly appreciated.

As a side note, with the purchase of this property, there is the option to buy the other two duplexes on the property in 1-2 years time which are of identical design and footprint with the same amount of monthly income.

Thanks,

Nick