All Forum Posts by: Andrew Sweeney
Andrew Sweeney has started 2 posts and replied 3 times.
Post: Advice on Oregon’s market
- Salem, OR (salem or)
- Posts 4
- Votes 0
Currently my brother-in-law and I are working towards buying our first duplex, or triplex. We've already gotten the pre approval, we'll be using an FHA loan. But we can't commit to majority of the duplex's that fall in range of FHA loan limits due to the conditions they are in.
What would be some advice that we could take and move forward with?
Thanks in advance!
Post: New here, seeking advice!
- Salem, OR (salem or)
- Posts 4
- Votes 0
I started with out of state, I haven't searched California yet. The places I started in were Fort Worth TX, Ohio, and Salem, OR. I know that I could have been searching wrong, and that there are more things to consider than just what a site says.
@Tim
Yeah the housing here has slowed down a bit, but it's also way too expensive for my taste right now for starting out. I was playing around with calculations and with a 25% downpayment for 30 years, and even 15 years everything I checked produced a negative cash flow of up to -$300.
I want to thank you both for your time, I do appreciate your advice and any advice at all!
This really is something I want to give a shot. I've been going into it the past few years, finally working up enough money to put down a down payment but I couldn't really find an answer on if I should use mortgages can produce a positive cash flow or I may have just been missing it lol. Thank you guys!
Post: New here, seeking advice!
- Salem, OR (salem or)
- Posts 4
- Votes 0
Hello, I'm just starting my journey into real estate investing, my current deadline for myself to actually start is next year so I'm trying to cram as much information as I possibly can.
One thing I cannot find though is how to turn a profit on renting real estate with a mortgage using a 20-25% down payment. I've been playing around on Mashvisor, using their calculator I can't seem to find a way to bring in monthly profits on a mortgaged rental property.
so I guess my question is, what's better? Buying with straight cash or using a lender? If using a lender how do you turn a profit? Is it a matter of negotiating prices or interest rates? Any information is greatly appreciated.