All Forum Posts by: Dustin Poole

Hi team, 

Long story short I have a family member who has a home (3 bed, 2 bath on an acre) with a 3% interest rate that they're looking to vacate and move to another state. Originally I was going to assume his loan and pay the difference between ask and market value. Now he's my Cousin and I wanted to do right by him so I discussed the pro's/con's of him keeping the house and just letting me buy in / operate the property as a long term rental. My question is what is the best way to do this? Do I keep the loan in his name its an FHA and pay him a lump sump (he owe's 190, the house is worth 350) maybe half of that and be 50/50 partners? It would cash flow around 1000$ a month and split the cash flow 50/50? Or should I look for other opportunities given the cash flow I'd sink here? Looking for general advice, I have a six figure amount sitting in a hysa that I want to deploy into realestate this year but am also fairly conservative.

Thanks Preston! Nice to meet you Sir. 

Hi Y'all, I'm just getting started in my real estate investing journey and am looking for like minded folks in the Parker County Texas area. Please reach out, I'd love to start a meetup / make forward momentum together. 

My wife and I decided to buy a home and are needing to find a tenant take over our lease. Currently offering 2250$, or the first months rent FREE. 

Any idea's, or tips on finding a tenant in a saturated market? 

For reference. https://www.facebook.com/marke...

Owner occupied. 

Bill, Appreciate it. DMing you now. 

Thanks Theresa, We've been talking with a few. Trying to iron out whole will give me the best rate. : ) 

Looking for lender recommendations in the Dallas area. Got one package with 7.5% interest and another with 6.5% both on a conventional 30 year with 10% down. Any thoughts / recommendations?

Thanks a lot Joel, you're break down helped a lot. We've decided to move forward. Now its time to find a good lender. 

Hi all, 

I've been waiting, and waiting, and waiting for a time I felt more comfortable buying and that times not coming. I listen to the bigger pockets podcast, and various other finance channels and I guess you could say I'm in a state of paralysis. 

The dilemma

The wife and I found a home we love, that is in the Weatherford TX area. 
The price on a per sq/ft number is relatively high for the area. 

The asking price is 495k and its newly listed. 

I make some where in the 200k range, however some of that (50k) ish is sign on bonus, and will expire at the end of this year. 

My wife is a stay at home mother, and does not generate an income. 

We have no other debt. 
 

My calculations put me over the "rule of thumb" for debt to income for a residence, but we have no other liabilities. 

I guess I'm just looking for advice, should I sit on my hands, or find a way to make it work. I'm also nervous about things appreciating.