All Forum Posts by: Henry T.

@Brent Coombs Thank you! It's the exact thought I had in my mind. Some examples of the numbers look like so.

The income would be $2800 a month. The residual amount after mortgage, water, taxes, electric and etc would be left over as $1500 a month. I would still be working a part-time job while in school and being a landlord which is some partial income not calculated with it all.

Her projected plan that she recommended was to use the residual amount after 8-12 months to invest in another property, pay off the property in less than 10 years and continue building an investment portfolio of properties and so forth. 

As a student and young minded, I'm thinking why would I want all this debt over my head and would it be worth in the long run when I am 30. Is it the wisest decision or should I decline the offer presented?

@Brent Coombs I believe in being educated, given the tools and fully informed about all factors about decisions. However, I'm confused and not understanding your answer or what you exactly mean by mentioning about your primary-to-be in a pro forma investment terms? 

Are you saying I shared too much information?

Thank you everyone who has replied and willing to give their opinion! I am skeptical of it too and yes I would be living in the property because it is FHA.

My agent has convinced me to get property. Even though it is my decision, logically I believe the numbers make sense when I see it. 

Honestly, I just don’t want to make the wrong decision! It’s why I want honest opinions about all of it! 

@Ronan M. I can PM you the numbers and send you the location for closer look! 

Sorry, I didn't realize it posted five times. Please report the others than this one if you see it. 

It's in Englewood of Chicago but in an area near the gentrifying parts where they built a plaza with Whole Foods, Starbucks, Chipotle, etc. There'a a community college and a CTA station nearby as well!

Does that help more?

Long story short I’m a young millennial, at the age of 22, getting into real estate investing. I found a property that apparently that I shouldn’t let the opportunity pass me. I’m nervous and excited at the same because I don’t know if it’s worth the investment. It’s an okay property, it may sell in the future if the time is right. It’s costing me 140k on an FHA loan. It would make about $2800 a month but taking home about $1500 after all dues. Over time, I would save that money I would save for another property in the next year to invest into. Any advice or ppinters

Long story short I’m a young millennial, at the age of 22, getting into real estate investing. I found a property that apparently that I shouldn’t let the opportunity pass me. I’m nervous and excited at the same because I don’t know if it’s worth the investment. It’s an okay property, it may sell in the future if the time is right. It’s costing me 140k on an FHA loan. It would make about $2800 a month but taking home about $1500 after all dues. Over time, I would save that money I would save for another property in the next year to invest into. Any advice or pointers?