All Forum Posts by: Dimitri Paspalaris

Thanks everyone for the advice. The property is 2/2 Town-home 

@Derek Diamond the difference is roughly $300 a year 

@John Mocker I am currently tracking down the bylaws and thanks for the information. The town home is not free standing house in the HOA.

Thank yal for the advice. 

I am getting ready to close on my first property next month and the seller keeps asking to move the date up. My gut is telling me to stay with the original date at the end of the month. Is their any advantage for me to close early and what are some of the reasons why the seller wants to close early? I appreciate all of the help and advice.

I am currently going through the process of buying my first property and the lenders are being vary tight. For instance, with a conventional 20% down they want 5.125% and the rates drop drastically to 3.99% when 25% down. The credit scores needed are slowly creeping up and I was told from my broker to have a 740 credit score to make things easier. Hope this helps.

Thank you all for the advice. In addition, if the town home has a master policy for the outside of the property should I make the coverage A  dwelling the same as the purchase price or 75k since I am responsible for only the interior of the property.  I am trying not to overpay on this property. Thanks for all of the help

If the interest rate on the loan is low then I would invest but most student loans have high interest rates. So I would pay it off first. I paid my student loan off first, then established a rainy day fund and then I started to invest. Gave me some relief by having no debt, and some cash in the bank if something were to happen. 

I am currently on Active duty with the Navy and closing on my first property next month. I would recommend starting to build some knowledge by reading and watching videos here on biggerpockets, YouTube and other media avenues. I would read both long distance real estate investing by David Greene and Set for life by Scott Trench. Also for VA loans read David Pere complete guide to the VA loan very good. Lots of great people here to answer all of the questions you have.

What literature or video do yal recommend on the topic of insurance for rental properties? I got two insurances companies telling me two things and I am trying to figure out which one is the correct one. One policy covers the coverage A dwelling at 75k and the other at 150k. The town home has an HOA policy and is being bought for 165k. Thanks for the help.

Just applied for a new loan on my first deal. Lenders are being real tight. In my area they are asking for a minimum of 20% down but the rates aren't great unless you start paying 25%. 

Do yal pay a higher deductible for a better rate on insurance and what rates and deductibles are yal paying? I am trying to shop around and see what would be the best insurance quotes. Thanks for the help.