All Forum Posts by: Sean Crean

I think I know the answer, but figure I'd ask

If I form a LLC would I be able to get a FHA loan through the company I form? I already have a personnel FHA for my Condo

Thanks Everyone 

I did not know about the FHA rules. I guess this where creative finance is going to come into play.

Please continue with all the help, advise and suggestions. I'm really excited to start this new adventure 

Does that mean 5 years from each contribution or the account was open

HI everyone

Been a member now on BP for about a week amazing site.

I currently own a one bedroom condo in East Brunswick NJ and looking to buy a triplex and into one of the units rent the others.

I have a Roth Ira, and I was thinking of using some of my contributions for a down payment.

I know you make withdrawals if your are a first time home buyer, which I did for my Condo.

But I also understood that you could withdrawal any contributions you put in without penalties or taxes, as done of the withdrawals are earnings.

Does anyone had experience with this? or know the rules?

I try reading the governments rules but was confusing

HI Joshua

I'm looking to purchase my first triplex property in New Jersey. 

I'm new to investment property and been a pro member of BP for about week now and listen to many of the podcast and training courses.

How and where should I post what i'm looking to do?

any suggestion would be great

Thanks

HI Austin

No I want to buy either or, yes I was think of using a FHA.

Yes my HOA does allowed rentals

Hi everyone I'm Sean

New to BiggerPocket and learning a lot 

So here my plan I currently own a one bedroom condo in Central New Jersey and with my Mortgage and condo fees, I'm getting now where ( first home and didn't really look into all my options at the time)

So what I'm thinking is to buy a Duplex and a Triplex and live in one of the units. Hopefully this will free up some of the money I'm paying out for my current Mortgage and maybe even give some extra cashflow. With the money I'm hopefully going to save, I would like to pay down some debt i have and also continue to build my investment portfolio. I do have a full-time job)

I have two questions

1. Is this a good plan?

2. should I sell my condo or rent it out?

I look forward to everyones thoughts and any help to get me going.