All Forum Posts by: David Edwards

I am moving to greenville, sc in August.  I have roughly $25,000 to work with, and I would like to start getting into investing. 

I have found a $45,000 house that needs minor cosmetic work (Basically new paint).  2 bed, 1 bath.  If I put 20% down ($9,000) my monthly payments including tax and ins. is roughly $250.  Zillow estimates rent at $800.  That's $550 monthly income if my numbers are close.

That leaves me roughly $15,000.  I would like to use the rest to put a 10% down payment on a $100,000 home to flip while I live there. 

This seems like a good way to get a jump start.  I am able to get 2 properties.  One providing rental income while still being able to purchase a house to flip. 

Is this a good idea?  bad idea?  I appreciate the advice!

Thanks for the advice everybody.

I work at a youth camp and I make a low income, but housing, health insurance,and other benefits make up for the low income.  

I am trying to get a mortgage for my first investment home purchase.  I have about $30,000 saved up for a down payment, but I recently learned that I can only get approved for a $40,000 loan because of my income even though I have excellent credit.  

I am looking for a 3bed 2bath home to rent out.  Maybe a $100k - $130k.  Any suggestions to make this happen would be great.  Thanks