All Forum Posts by: Steve Oak

Thank you @Kam Olsen and @Michael Noto - your points make sense.

@Brian Boyd - Thanks for pointing out earnest money. In your experience, what is a common percentage/amount of earnest money you have provided to a seller and what would be some criteria to warrant a higher or lower amount?

@Mike Cumbie - I appreciate the 2 scenarios you outlined. It definitely paints a clearer picture that option 2 has a significantly higher chance of closing while potentially offering less than option 1. Thank you for sharing!

@Zach Rucker @Maurice E. Stokes Jr Thank you both! That makes sense and appreciate your responses.

@Keith C. That's definitely good information to have. Thank you for sharing!

Thank you @Brian Boyd!

So does that confirm that sellers will typically favor offers with a higher down payment? Or are there multiple factors that would determine which offer a seller would accept?

Hey @Jacob Gregory, in addition to Lauren's recommendation, you should also check out the new Real Estate Rookie podcast (only 2 episodes so far but the first one was awesome and is geared towards newer folks like us)

Hi BP community,

This is my first post on the forums and I'm curious if using an FHA loan and only putting down 3.5% on a MFH for house hacking is seen as "less desirable" of an offer to a seller that may also receive offers with 20% down (or any down payment significantly higher than 3.5%)?

This idea stemmed from my parents who have invested in a variety of RE properties in across multiple states so I’m sure there’s some truth but I’m open to hearing others’ thoughts.