All Forum Posts by: Damaso Bautista

@Michael Queen

Hey Michael, 

Those numbers are really nice.  If you found this then you have a good thing in your hands. I say go get it because those numbers are hard to find in today's market.

Good luck!

@Jeremy Smith

The thing you need to do is figure out what you can buy with what you have and what you qualify for.

Find out how much actual liquid cash you have and how much of a mortgage you qualify for in addition to your primary mortgage.  Once you do this you will have a better picture of what you are looking at.  

After this I would run the numbers based on a pure investor level. 

25% down

Liquid in the bank ( closing costs, repairs to make rent ready, and 3 months reserves)

If you have this all lined up then the process if very straight forward and easy, you find a place that meets your criteria, you buy it, make it rent ready, find a renter and then rent it out. 

If you have any questions feel free to ask them and I will try to answer them.  

@Terry Miller

Do me a favor watch Brandon Turner's youtube video. Then once you learn how to analyze rental properties you will be able to better determine if a $65K house is worth buying.

@Terry Miller

Is that the only criteria you have? I am sure you can find a $65K home that is move in ready somewhere in the US. 

The question is are you willing to buy that house if the market rent for that house is only $400 a month.  

or is your question, is there a $65K home that is move in ready in a market where I will make money in either cash flow or appreciation.

@Alfredo Villegas

Appraised amount minus the loan amount equals the EQUITY.

Example:

You get an appraisal on your home and it appraises for $850,000

The loan amount on your home is $350,000

$850,000 minus $350,000 equals $500,000 equity

I hope that helps

Good luck!

@Danni Green

Hot Market is when a property goes up for sale for $650,000 and is contingent in hours for $850,000 with multiple offers on the table.

That is a hot market!

I am using Los Angeles California numbers but you get the idea.

@Bernardo Mazon

Never heard of them!

@Nathan Mckenna

If you have enough for a down payment and closing costs and you can qualify for a mortgage, the house hacking would be a great start for you. 

Think through your plan and make sure you know all that is involved then go for it.  

I truly believe that every individual person needs to make their own path and if that is the path that you choose, good for you!

Good luck!

@Vincent Maniquis

This business is all about money, so as long as you have a plan of how to get your money straight to begin investing.  The rest of pretty straight forward.  

I have kids your age and the doubt they are expressing to you is that they have been watching you your whole life so they have a perspective about you that only they can see.  

If you are a go getter that works hard, you will be able to make it in whatever you want to.

Good luck!

@Hilary Graves

If it is a 22 year old recent University Grad that just landed their first real job and are trying to get started. The would consider this person.

If it’s someone who should have an established credit score the. I would likely investigate further.

I am sure you can use context to help you out on this issue.

Good luck!!