All Forum Posts by: Account Closed

I assume you are buying this as a investment property.  In that case, why buy a negative cash flow property and hope for appreciation years and years from now?  The index fund wins.  Maybe someone else has a different perspective.  

Sounds like you will be buying a headache.

@Robert Bodmer

You may find Rich's story interesting:  https://richonmoney.com/about-me/

@Jahleel Felix

Sent you a personal message.

@Jahleel Felix

I would suggest listening to podcasts, read books, network, YouTube, etc.  After that, you still will not know everything.  Make sure your financial house is in order, then make a move.  Experience is the best teacher.  

It sounds like this is your only $25k.  Are your other finances in order?  

Be careful. 

I am not sure what the best option is, but my loan is held at a bank in the state that I invest in (Arkansas).  I would add to make sure your lender is friendly to rental property investors.  

You can have the conversation with the loan officer, but I doubt that it will help.  Your personal credit, income, etc is what matters.  They want to make sure you can pay the loan back.  

I am new to REI, but I would assume every property would need various amounts of reserves based on prior renovation, expected expenses, how conservative the investor is, etc...

I keep 1-year of mortgage payments in my account for a turnkey home I purchased.  I do not expect to use this anytime soon.  

Great stuff!  I'm doing something very similar.  

I bought my first rental a few months ago with my side hustle income.  I'm looking to pay off the mortgage within the next year.  

@Brian Charles

I'm investing OOS in Little Rock, AR (my hometown).  

I currently have one SFH under my belt, and currently looking to purchase another within the next 6-months.