All Forum Posts by: Brent T Galbreath

@Yvette Chung hi Yvette, so happy for you making the step. My wife and I are trying to get our first home here in South Jersey as well. Do you mind telling me what town you were able to purchase in? The taxes look extremely low. Wondering if after purchasing they will reassess the taxes as New Jersey is known to do and stick you with a much bigger tax bill?

@Holly my wife and I are 52 years old and are just trying to pick up our first home after studying for almost a year on how to do it right. It was discouraging realizing I didn’t start earlier but I’m not responsible for what I didn’t know. But now that I know, I am responsible! I can’t cry over spilled milk. I’m just grateful that at 52 years old I still have the energy to try to get ahead to the best of my ability. Hope you knock it out of the park Holly! would love to hear how your journey goes as well as others who started late.

I found a great home that after it's fixed up, should definitely be around 75% of the ARV. Not sure if I would flip or rent at this point. However the house has solar panels and 22 years left on the contract. That would be a cost of $130 per month to me. First question, would you guys stay away from a home with solar panels? Secondly, if I buy and hold, would you recommend I pass that on to the renter?

@Brian Gibbons thank you. Love the easy breakdown you gave. I’m living in NJ but looking to invest in FL somewhere. Would you say there are plenty of sellers who are willing to do this or is just in unique situations?

@Todd Dexheimer love that article Todd. Congratulations on the apartment complex. That’s a lot to chew on for sure. Thank you for your insights.

Hey Guys, so I'm hearing more and more about lease options being a great way for a newbie to get started in real estate with no money down.  Can someone give me the skinny?  Is this legit?  What are the pitfalls and strengths?  What are the best resources to learn how to do this?  I have no home in mind to try this on, just wondering if this is worth my time investment...and financial investment to learn.

@Alex Olson when you say if I pay it all in cash I could pull money out in a refinance later; are you saying refinance with a traditional mortgage or HELOC?

Just saw this post. I know I’m late to the game on it. LOL I’m 52 years old and trying to Achieve a few goals that I have. This is so encouraging!

@Tyrone Jackson by mortgage you're speaking of a traditional mortgage or HELOC?

I'm considering buying my first home for rental for 89k and the ARV (at least 2 weeks ago) was between 113k-118k. It's in a C class neighborhood and current rents are approx 1k. I could pay for it in full and have enough left over for a 5k renovation (which is all it needs). I do have a pretty secure job that pays me well so it's not my life savings. In this covid-19 world, would you guys suggest I pay it in full, have no mortgage, and then HELOC for my next one or put minimal money down and go for a 30yr fixed since rates are so low? Would really appreciate your opinions.