All Forum Posts by: Guy DeBoor

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Guy DeBoor has started 2 posts and replied 4 times.

@Brandon Turner Please add me to your list to send contact info. Could use him on southside of Indy. Thanks.

1 Vote

Indianapolis, Indiana

Hi all,

Looking for suggestions on what would be a good approach to handling this scenario.

Young couple in their early 20's bought a HUD house last year. After renovations they took out a fixed rate mortgage at a good rate (not sure of exact percentage) for 82k. Their current payment with mortgage insurance is about $700. House would list for 125k.

They now want to sell and get a different house in the same city (Indianapolis). They are open to holding their current house and renting it. Appears they can get about $1100/mo.

Initial question that comes to mind is how they can obtain down payment to buy a new house given their equity is tied up in their current house.

What real estate investment principals can be applied here? Is there something they could do to enter the world of real estate investing in their current situation?

Happy to provide additional information as needed. Thanks.

0 Votes

Thanks @Edward Rhoads. I'll check that out.

0 Votes

Hello everyone,

I am a lifelong Indianapolis resident. In my day job I'm an IT professional. Within the past 5 years I started investing in buy and hold rental units. Currently own 4.
One of my sons is a real estate agent also here in central Indiana.

Looking forward to the vast knowledge in this forum. Right now learning more is my goal so that I can explore other potential real estate investment opportunities. Btw, I really enjoy crunching numbers (Excel is my friend!)

2 Votes