All Forum Posts by: Earl Salisbury Jr

Jason that is what is stopping me.  The Trulia calculator figures a 20% down deal ($89,580) would end up with a monthly payment of $2,104  ($1794 principal & interest; $235 taxes, $75 insurance)
Tenants are in place but I don't know how many.  Extensive remodeling in recent years, new windows, siding, etc.  New roof & ACs in 2015.  Located on our main drag, 12 units plus an office unit, I guess they are talking about the Lawyer office next to it.  I'm still real estate stupid but I think this is a good opportunity.  What say you?

Unfortunately, neither, that I know of and I really dislike the idea of asking anyone for such things.  

I will soon own a lake view lot 45 x 300 feet, but that is it.  My buddy keeps saying they would do a signature note for a house but this is a little bigger than a house, LoL

OK so I have never bought a property and there is a 12 unit apartment building for sale nearby($448,000).  I have no money saved because I have been paying hard on some old debt.  Credit score is 725-ish, yearly income $24,000 working at Lowes.  At full occupancy, gross monthly rents would be $6445.  According to Trulias affordability calculator the monthly costs are $2,927.  
So how can I make this purchase happen?

Hello.  I have never purchased a property.  Never felt I could afford it.   The idea of years of payments did not sit well.
Went to college & got a degree in Environmental Management, then all kinds of crap happened, now I live in my Jeep.
I bought a lake lot were I keep my old travel trailer which was once my home, & all my other belongings I don't need day to day.
So I've rebuilt my credit & want to try to buy rentals in the Grove, OK area, particularly in the lake community where my lot is located.
But I don't have money for down payments and it would take forever to save enough for one from my W-2 income with all the payments I have ongoing.  This drudgery must end but I don;t want to leave Grove.  So this seems to be the answer if I can just get the chance to start buying investment properties.  If I make $2000 a month I can quite my job and focus on this full time.  I have no other # in particular to reach, I just want to build and build forever so I can take care of everything and everybody.  I am tired of money being the restriction on how much I can help my mother and others.  I want to improve this community in the process and build some nice homes when I can afford to do so.  But to start it seems I need to buy turnkeys or light cosmetic places.  Is it possible to just get a big loan to kick things off?
Found Bigger Pockets in my search for information and help.