All Forum Posts by: Eli K.

Hello I have about 650k of equity in a home and I'm thinking of getting out and buying a NNN like a Starbucks or another strong tenant with a long lease term, my first question is can I put it as a down payment on a 2m property like a 30% down payment? Another thing I read here is my net worth has to be over 1m to qualify for the loan and my net worth isn't, do I have a chance? Can you get a pre approval for commercial like you do before you buy a house ? Thank you guys

 I was told that if she pay it for 12 month off her checking account i can take it off my dti when qualifying for a second loan , is that true?

Hello im about to co sign on a loan with my Mother on Monday,  she is the primary borrower and we will live together in the house , i want to be able to qualify for a loan to buy a rental later on , i heard that if she make the payments for 12 month from her account i can get the loan payment out of my dti when applying is that true ? And i believe the house will be in both of our names will that affect anything in a bad way ? Thanks guys

Do you guys think I can Qualify for an FHA loan if my income is very low ? I am a student and I work for minimum wage and I don't have a 2 year Of income proof.

I am 19 years old with zero experience in real estate but I gained some knowledge from these forms , Anyways I have a single mother and we are selling our house in upstate newyork and Moving to Jacksonville FL , and We will have around 100k to 130k . I know i want to invest in real estate but im scared of making mistakes, I wanted to buy a single family home from a local turnkey called Morris invest because I thought its safer to buy with him because he rehabes the property , but I’ve heard bad things about him . My second option is to move to Indianapolis and invest in multi families by myself using a realtor, but im worried of making some fatal mistakes and loosing some money as those are the  only thing we have left . Please help me with making the best decision and if choose the second option, how can I avoid making fatal mistakes? And would i be able to Qualify for a loan on a rental if I only make minimum wage but i have the down payment? My mother doesn’t know how to invest and shes depending on me, I really need serious help

@Vlad K. I own a house in upstate NewYork I am planning on selling it in summer, it could sell for 140k , I found a turnkey real estate investing called MORRIS INVEST , I talked to the president of the company he told me he could get me a duplex in Jacksonville fl anywhere from 60k to 70k , and he told me it could produce  a 650$ of cash flow per side, which I believe its true because rents there are about 850$ a month and the taxes are cheap there , I am planning on buying one from him, rent one side and live in the other one , then later on if I see great cash flow coming in ,  i will buy another one from him . We still discussing everything now. Got any advice for me? but in Jacksonville, there is some pretty high crime rate but its the same rate in where I live, I know I gotta make some research on the area where the property is located before I buy it.

Depreciation reduces taxes but it also reduces the value of the property because you are depreciating it right? So when i want to sell it it sells for less than what i paid for ? I can t really understand depreciation 

I read many articles saying that you can deduct your property management fee or your repair costs or your insurance cost from your tax on your rental property, are those fully deductible??? Like if the property management fee is 50 x 12 = 600$ , they  take off 600$ from my taxes??? Please someone make it clear 

in pa , single family homes are between 40 to 50k and can be rented 750$ a month , there are also multi families like 2 or 3 units with price range between 60 to 75k . Please give me some advice

I live in far like an hour from wilkes-barre , and i have a house that worth approximately 120,000 $ i am looking forward to sell it and invest in multi family homes in wilkes-barre pa and live there , do you have any advice for me ? are there big differences between the NY and PA laws in real estate? And i want to manage my properties by myself to get a higher cashflow , i did some research and i think i will be fine :)