All Forum Posts by: Andrew R. Lucas

@Cory Petersen Welcome my friend!!  I still haven't finished Rich Dad, so I'm no help...

However, I did listen to The Book on Investing with Low and No Money Down on audio book.  Look in the Education Tab here and you can get it.   

Welcome @Aj Rankin!  

Welcome @Robert Goldberg. I had the same thought during College in Columbia at USC. I could not believe how much money my friends and I were spending on rent. Right after school, I purchased my first home using FHA and I was able to rent out the bedrooms to friends. I think that is an easier way to get the financing since you will reside in the property. Plus, the city was giving great 1st time home buyer credits.

Enjoy those podcasts.

Andrew

@Cale Snyder I would consider leaving the wood.  But spend the money on dry walling the ceiling.  Or see if the wood is also "under" the ceiling tiles.

I just finished a flip of a 1919 bungalow.  I'm sure the materials are similar.  That's real 1 inch thick tongue and groove wood planks on the walls.  They are almost indestructible.  Obviously, paint them but keeping them gives the house great historic character.  They also provide incredible insulation and rigidity to the house. 

We had the same wood planks on the ceiling as well.  Again, just paint and go with it. 

Pictures aren't the best online but check out 331 clark st, 29033.

Good luck!

Welcome @Terri Spann!  BP has a wealth of knowledge and makes meeting people driven investors really easy.  I suggest checking out the podcasts and webinars for loads of info. 

A lot of investors stay away from the 29203 zipcode.  Even though the rental market is pretty good there.  You should use the lack of investors to your advantage and make sure you get a great price. 

Good Luck! 

Welcome @Gene Johnson!  BP has a ton of helpful resources to help you ramp up .   check out the blogs along with the podcasts.  Don't be afraid to post question in the forums.

I've found the same or even longer seasoning period.  The alternatives do come with higher interest rates but you get your cash out much quicker.  

You may want to talk to the investment property lenders like Lima One before purchasing.  you can probably get the financing on the front end so you'll save 80% of your cash.  Then wait the seasoning period to refinance.  

Cola here. What areas are you going to prospect in?

I believe you will be required to pay an additional tax as out if state seller.  5% - 7% I think.

It only costs $110 to create the llc. But then you'll have to get the property in the llc name.

Let me know when you plan to sell. I'm investing in Columbia.