All Forum Posts by: Account Closed

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https://roaringjellyfish.carbonmade.com/

Looking to buy a SFR in or near Tupelo, MS for my personal residence. Looking for value. Fixxer-upper ok.

I'm following this topic because I'm interested in the answer to your question as well. Since I'm brand new to REI, I don't have much to offer as far as answering the question.

However, the  (loan/value)  and  (price / loan balance)  terms change with each payment. Therefore, perhaps these terms just add more accuracy to the picture of current cash flow?

Hi, Bradley. Welcome to the BP community. I've only been here about a week and they have been a great help to me already. I am also in Maryville and just joined BP after a webinar the other day. I'm brand new to REI myself, and am also looking to learn as much as I can before getting into my first deal. One thing that I hope to avoid is the problem of never taking action because of fear of not knowing enough. While, it is wise and prudent to learn everything you can that is applicable to the type of work you want to do, it is also necessary to set a goal of when you want to take action. I was reading some of John T. Reed's articles and he suggested 6 months of intense study and then jumping in. The longer we wait, the harder that first plunge can be! So I wish you the best!

Thanks, @Elizabeth Colegrove, that is the direction I am leaning, although I don't like the idea of paying PMI. However, my feelings aren't as important as the numbers. ;) If the math shows that even after PMI, it is still better to put less down in these times of low interest rates, then that is the route I want to go.

By the way, I forgot to mention this in the original post, but it might make a difference on how people answer my question: I am looking for SFR or a duplex under $115K to begin my REI career.

Hi, BP Community,
I'm a brand new investor seeking to maximize cash flow quickly to build portfolio of rentals. Should I put a big down payment to get more cash flow and then use Home Equity Loan to get another property? Or should I do small downpayment to have more cash available for another deal? ...Or should I be thinking about things differently? Thank you all for your thoughts!

@David Kohn, 
Hello. I am new to REI and work in Knoxville. I wanted to connect here on BP so that if I find deals I can send them to you. While at this time I am trying to focus on finding a rental, I may come across something you would want. Would you mind sending me a PM to tell me more specifically what you are looking for?

Great work! I am looking to purchase my first SFR to rent out and would love to be able to create a deal like this to maximize cash flow early. Thanks for the links to hubzu. I had not heard of it before.