All Forum Posts by: Alex Merkel

I have been on the sidelines for years and finally I think I have the opportunity to get in the game. I am really scared of losing everything.

I have a deal found in Temple TX

Subject to creative financing. $16k entry cost plus closing costs.

I have 20k saved in cash

$83,000 pp 2bed 1bath 950sqft. **PITI is $522 a month (2%interest rate)** Actually cosmetically ready for renters and appears fixed up.
On the inspection report the plumbing failed and it mentioned shifting soil in the foundation report. 

Good deal or pass? My thoughts are $522 piti is amazing and rents are $1000 a month. Not going to eat any cash flow and put any surplus into the house.

I appreciate any thoughts and insights!

Wow, so many great responses! I just want to say thank you all for your time in commenting on this thread! I took a liking to a few posts mentioning learning trades that are profitable like software engineering that could propel someone who works hard into a new income bracket. I also liked the idea of doing both an education and real estate; I will hopefully doing my first deal as an FHA house hack soon where I rent all the rooms out and have the mortgage and expenses covered. Cheers all! Thanks again :)

Thanks for all the feedback :) 

I am in a bit of a pickle; I am deciding how to achieve my goal of owning buy and hold real estate. My current job doesn't bring in a lot of money and I am trying to figure out if I should just go to college and get an associate's degree and augment my income so I can save more money for down payments or continue in the path I am on and maybe have a slower acquisition rate and be less "bankable." Right now I have just under $10,000 saved up over two years and I would love to hear what others think about my situation. Thanks!