multifamily home: “20% Down not necessary to buy a Multifamily Home to Live in” - 04/10/19 07:24 AM
“20% Down not necessary to buy a Multifamily Home to Live in”
 
 
 
 
 
Mr. Petrowsky,
Thank you for speaking to us the other day. We got some very bad information from our real estate agent and should have contacted you first. If you recall she told us that if we were to buy a multifamily we needed to put 20% down, which we now know is totally wrong.
Thank you for the pre-qualification letter, we are home hunting this weekend and hopefully we find what we are looking for. Georgie.
 
 
The lending landscape can be confusing for sure. These clients were interested in buying a … (5 comments)

multifamily home: “Buying Multifamily Properties” - 03/12/19 06:55 AM
“Buying Multifamily Properties”
 
 
 
 
Hi Joe!
Hope all is well! I have a question about possibly making a large real estate purchase. I am incredibly frustrated with my job, which I’m attributing to a blessing in disguise, because it’s pushing me to get the lead out and focus on real estate more! I’ve gotten 3 out of 4 properties on the MLS, but I haven’t seen anything that has caught my eye in a while, so I started looking around at multi-families and came across an apartment building. It’s a total of 6 units and going for 675,000. This would definitely be a huge … (4 comments)

multifamily home: “This Property is a No Brainer for this Client” - 01/09/18 06:41 AM
“This Property is a No Brainer for this Client”
 
 
Good afternoon Joe...
Found a property I have interest in located in Meriden. As you know originally I was looking for a single family home that needs renovations. I would not need a 203K rehab loan ... but a standard FHA loan would do the trick ... the property is a fully renovated 3 family top to bottom ... they are asking 299K for it... it is priced a bit high for the area... looking to possibly make an offer but need to know what is available for me spending wise ...down payment as … (4 comments)

multifamily home: “Multifamily Homes as an Investment Vehicle” - 11/16/17 06:49 AM
“Multifamily Homes as an Investment Vehicle”
 
 
Hey Joe,
Hope all is well. I just had a few questions on how to go about purchasing my next multi family? What is some stuff I’ll need to get in order? Finally is it better to try and purchase as an llc or should I keep purchasing them in my name? Also my fiancé would like to be my partner is there a way she can qualify for a cheaper mortgage? I look forward to hearing from you.
Thanks, Dan
 
I am so proud of Dan. His first property was a three family that he still … (3 comments)

multifamily home: “At 24 already thinking about Real Estate as an Investment” - 04/07/16 11:08 PM
“At 24 already thinking about Real Estate as an Investment”
 
 
It was such a delight speaking to this young lady. She is ready to purchase her first home, a three or four family. Her goal is to live rent free plus be able to pay down on her student loans ahead of time. Fortunately, her parents have owned these types of properties and are readily available to coach her.
 
She is not alone. I speak to young adults looking to purchase multifamily homes as their first home. I do a lot of coaching and ask a lot of questions, as owning a multifamily … (21 comments)

multifamily home: “Make sure Your Blogging Messages are Relevant” - 08/02/15 11:02 PM

“Make sure Your Blogging Messages are Relevant”
 
I have learned over the last few years (since I have started blogging) to keep my information relevant. So, that when someone puts in a search there is the kind of information that is useful for some time period. I got this email as a result of a loan product that was available to folks that wanted to refinance multiple residential properties. The last two that I did were a package of 28 properties and the other 8 properties. The neat part is, I can do this loan product anywhere in the country. The … (41 comments)

multifamily home: “Why Don’t More Multifamily Homeowners Refinance?” - 07/26/15 10:46 PM
 
 
“Why Don’t More Multifamily Homeowners Refinance?”
 
I am always amazed when someone comes to me for a new mortgage that currently has a high interest rate on their property and they are not planning on selling. So often the property is a multifamily that was originally financed with an FHA mortgage. This is so crazy when the plan is to keep the property. But they are not aware that an FHA streamline mortgage can be done. It doesn’t matter if the property has equity or not.
 
Carlos was paying 6.75% for a rate. The refinance was going to save him $400 per month, … (27 comments)

multifamily home: “A Benefit of Owner Occupied Multi Family Homes” - 10/19/13 11:49 PM
“A Benefit of Owner Occupied Multi Family Homes”
  Gerald was living in an inexpensive rental paying $500 per month on the 3rd floor of a 3 family home. The owner worked out a deal with him to do small maintenance work, shovel the walks during the winter and collect the rents for him.   The owner mention to Gerald that he was planning on selling in the near future and said why don’t you buy it? It never occurred to him, but said he would think about it.   A couple of years earlier I did a mortgage for his parents, … (15 comments)

 
Joe  Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) Rainmaker large

Joe Petrowsky

Your Mortgage Consultant for Life

Manchester, CT

More about me…

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709

Address: 110 Main St., Manchester, CT, 06042

Office: 860 647-7701 x116

Mobile: 860 836-9294

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