All Forum Posts by: Tyler Puzio

Hey Everyone,

Finally have a deal under contract and have full intention of going through with it. In one of the units of this duplex there is a section 8 tenant. I would want to have the tenant sign a lease with me but didn't know if there were any special considerations/precautions I should take. Is there a way I can get section 8 to pay 90+ % of the rent? Do I need to reach out to any specific agency? Any help is appreciated. Thanks!

@Harjeet Bhatti Thank you, I’ll be sure to check it out.

I have found a few duplex properties that would be great house hacking opportunities. The issue comes because of mortgage insurance being required on an FHA loan (3.5% down). Is there any way to get around mortgage insurance? It is the only thing stopping me from receiving positive cashflow while still living in the property.

@Mason Hickman great idea. Might have been focusing on cash flow too much haha. Appreciate the reply.

So I'm looking into a duplex that is fully rented (3000/month) and would cash flow at the price I'm trying to get it at. The listing price is 359,000 but I would like to try and get it at a 10-20% discount. With closing costs and down payment I would be spending around 65-70k with a 30 year fixed interest mortgage. I live in an expensive market but the numbers work out if I can get it at a discount. The problem is that would be the large majority of my savings. Should I instead keep looking for something cheaper or something that I can get with an FHA loan to try and keep my CoCROI higher? Any advice would be great, I'm a new investor who refuses to get a bad first deal. Thanks!