All Forum Posts by: Austin Youmans

Buying with cash is ideal but how long would you have to save to do it?

Also if you can get a loan and still cash flow then I would say a loan is totally worth it.

if you want you can try to pay the loan off faster if you want to own a property free and clear.

I would say pay off the 8.5% interest loan.

Sell your car and get a cheaper one.

after that you can invest the rest.

• Access to the property keys to get inside to look without waiting
• half of the sales commission if you are buying or selling

Congrats on taking action!

I'm not sure if there is anything like that but you can try looking at the BP files.

http://www.biggerpockets.com/files

I don't know a ton about the finance world.

Do you know how exactly a masters in finance would help you?

Are there jobs you couldn't get without it?

hard to say what you should do without that information.

It depend on the interest of the loan you have.

Usually auto loans are pretty low interest so I wouldn't worry about it but you should do a cost/opportunity analysis.

• How long was the original loan for? And how far are you through the loan?
• What is the interest?
• How much would you save if you paid it off as quick as possible? How long would it take?
• If you saved instead of paid it off, how long would it take to invest?

You only need to determine the price or the terms.

If they give you a ridiculous price just say the only way I can make that work is to take these terms. which would be lower interest, longer note etc.

That sounds like a horrible deal from the lender!

I also agree with everything Colin said.

If you can swing 50% down then just look into owner financing.

by replacement costs I am assuming you mean maintenance. most people put aside 5-10% of the monthly rent. It depend on the class of property and how old the property is.

1.You do not need a property manager unless you don't want to deal with it.

2.You can ask the seller if you put more down then would they give you better financing?

otherwise no, just keep the cash and invest it somewhere else.

3.No, the same rules apply