All Forum Posts by: Joshua Malik

If I were to use a personal loan in my own name, and then use those funds for all or part of a down payment as an LLC (sole member) to purchase rental property... are there any issues with that?

You can absolutely get 3.5% down with FHA for a triplex that you will occupy. That's exactly what I just did. Granted your specific credit and financials will affect exactly what you qualify for. FHA is generally pretty easy to qualify for.

I went with Flagstar, who I'd used in the past.  Worked out so well (again) with that lender, and with my contact there, that I just closed a refinance on a different property with them.  PM me and I can send you my contact.  Tell her Josh Malik sent you and you'll get good treatment.  :-)

You can also talk to @Jerry Padilla and I'll bet he can help.  He's on my short list but haven't done business yet.  Maybe the next one. 

Welcome to BiggerPockets!

A few thoughts - probably none of them worth listening to. ;)

1) In the case that she gets the power turned back on and you are unable to go the DNS route, then I would guess you have no cause to take any action. There was a recent change in Wisconsin whereby you can give a 5 day notice *with no right to cure* if there is illegal activity (especially drug related) that interferes with the safety of others, etc... but I doubt that it applies to this.  Note that I am not a lawyer.

2) It would be nice to have already given a 5 day notice, so that you wouldn't have to give another one, right? Well... the same thing will be true 5 days from now if you haven't done so yet.

3) By the way, do you have pictures or even video of all the relevant stuff?

Whatever happens, don't forget to update this thread with the result! 

Hi Bryan,

I happen to be an agent and an investor - and am personally house hacking a $115k triplex on the South side of city of Milwaukee after having house hacked a $100k duplex in South Milwaukee - both with minor rehabbing but nothing too drastic.  Feel free to PM me!

Cheers,
Josh

Hi Peter.  Welcome to BiggerPockets.

For Wisconsin, the WRA online classes worked well for me.  

@Ras Schuster - just a small clarification.  Home Depot does not own the Rigid brand.  Rigid is a brand owned by Emerson Electric (based in St Louis), with most Rigid branded products made by Ridge Tool Company (based in Ohio) and some made by Emerson Tool Company in St Louis. 

Disclaimer - I work for a different Emerson business - namely: InSinkErator.

Hi Rick.  Sounds like a good plan.  Do you focus on any specific part of town, or wherever you can find a deal?

I, for one, haven't found a shortcut.  It's just a matter of seeing the properties (as the pictures rarely tell the whole story) and doing the analyses.  

Also beware because these sites will bid "on behalf of the seller" to try to trick you into thinking that you have competition and thus increasing your bid.