All Forum Posts by: Ashley S.

My new scenario now I'm considering is just helping them refinance ( I would cosign).  Keep the house in their name so we can keep our money, then all the kids just give them money each month if they need it.  Kind of like our own reverse mortgage.  We will be repaid after they pass away and the house is sold.  With this scenario the taxes stay low but since it's in their name, I think we would need some sort of trust to avoid all the probate and death taxes? 

Thank you so much for all of your wisdom, I love being able to get advice from smart people!

Hi Mike, 

  Can you give any suggestions of areas in Ogden that would be a good place to start looking to purchase a rental?   I'm out of state but interested in a duplex or triplex to rent out there.

Thank you so much for all of your tips/advice.  I realize there is a lot to learn but I feel like I have gained a lot of great knowledge from all of your suggestions. I also now have a list of vocabulary words to look up that I don't understand (LOL).  

Sarah,

  I PM'd you, thank you :)

Hi Sarah,

  I have looked in San Diego, that would be the easiest since I live here, but I can't find any properties that would rent for as much as the mortgage.  I will keep looking :) 

Hi Embert,

  The homes around his college are in the $600,000's.  I couldn't pay the mortgage by renting it.

Hi Clayton,

  I definitely want someone to manage the property and I think I need to go out of state because California is very expensive.  We have more than $100,000 available to spend, but since I am new to this, I want to go slowly.   I'm trying to figure out where I should begin looking.  Since I wrote my first post, now I am looking at duplexes that I can rent out and get someone else to manage.  It's overwhelming to figure out where to start looking.

Thanks, Dustin.  So I'm looking online at duplexes but how do I know how much I can rent them for? How do I check if it has a stable market, good cashflow and steady jobs like you mentioned? Where is the best place to find this information? 

Does anyone hire someone to find and evaluate profitable rental property for them?  I don't mean a real estate agent.  I mean someone who is not trying to sell me a house, but simply using their expertise to make sure I don't make a bad decision.  This could possibly be a stupid question, but I'm brand new at this and have never purchased anything.