All Forum Posts by: Syed Khan

Sorry if I wasn't clear about my question. I was reading on Zillow forums about some of the nightmares regarding the FHA loans and most of them were complaining about how they got into it thinking it's a great way to buy a house and then Mortgage insurance kept going up and lenders don't provide all the information they need as the lenders are not educated either. I am very new to REI and I am looking into FHA loan for my first investment so I am trying to gather as much information as I can to see if it would be a good idea for me to go with FHA loan. Thank you all for your input

I have been trying to do some research about the FHA loan, it may require a lot of paperwork and research to make sure you don't get screwed over by the Mortgage lender and other parties. However, anyone here in Mass has experience getting the FHA loan. What has been your experience? Do you recommend new investors to get into it?

Hello everyone,

I have been reading the books that are recommended at bigger pockets and have been getting a lot of great information. I want to find out from other investors about how much time did they put in learning before buying the first property? When do you feel comfortable going with your first investment. What are the mistakes you have made in your first investment? Did you get all the contractors ready before you started looking for your house? Was it a traditional bank loan? Or some kind of creative investment. Any insights for this newbie will be very helpful. Thank you all.

Hi Joseph,

Absolutely! Thank you for reaching out. Is there a Worcester investor group here? Would love to get in touch with you to discuss the investment opportunities in Worcester. 

Thank you Mike and Angela! Trying to learn from all you amazing experienced investors. 

Brandon - sorry for so many questions buy why is investing in a condo not the best idea? 

Thank you everyone for your great input. Honestly, I have just started to educate myself on the real estate investing and this whole time I was thinking the only way to invest in real estate is either all cash or conventional mortgage till I started reading blogs here and took the free mini course. I do not have a set goal yet as I am just getting started. 

Brandon - I was always told by my friends and family to buy a condo with whatever cash you have so you don't have to worry much about the property compared to single or multi family homes. I unfortunately did exactly what has been told and the condo fee keeps increasing every year and it is starting to worry me a little because of the monthly cash flow decrease. I mean I still own the condo and maybe once I educate myself, I can get rid of the condo and use the cash wisely. 

Any suggestions on where tostart besides the blog posts and podcasts?

I just read the post and realized that it probably does not make sense.

What I mean to ask is how would you invest 150k cash depending on your goals?

If you have 150k cash in your bank account. Would you buy 1 house for a condo and get a positive cash flow or would you buy multiple duplexes or use it fix and flip houses and use bank financing? I know it depends on what your goals are and other factors. Your feedback is appreciated.

Hello Everyone,

My name is Issam and I have just discovered this amazing website. I have just finished the newbie course. I am excited to get educated about real estate investing. January 2015 is when I bought my first rental property with all cash down in Worcester bringing me $700 cash flow every month. However, when I invested all that cash I wasn't educated about the investing and I would like to learn more about creative real estate investing and different types of financing that will help me buy more properties in 2016. Looking forward to learn from all of you amazing investors and hopefully contribute to this community as well.