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Good points. I figured it could take 2 months to find a tenant (at worst).

The properties are SFR, but yeah the apprecation could be more like 4-7% (Houston and Austin).

So what I'm hearing is, unless you're cash flowing, buying and renting properties is a waste of time and doesn't fit the mold of the "buy and hold"strategy??

Hi All!

I have a few potential deals in the works and with the way the numbers work - after mortgage payment, taxes and insurance, I'm pretty much breaking even.

The thing I'm banking on is somebody paying down my mortgage (so equity growth is happening regardless of appreciation), appreciation (5-10%/yr) AND cashback at closing (approx 15K).

Thoughts???

Thanks for the heads up All Cash.

I figured as much. I'm not looking to flip anything or expect huge gains in the next yr or two, but what I am looking at is buying bargain properties and having someone actually pay them down. Buy and hold strategy.

So I'm not expecting 10 to 20% gains like we recently had here in California, but rather having long term investments and possible cash flow.

I'm aware of the taxes and the annual assessments. 2-3%?? Mannn, that balances things out real quick

:D

Is the position for a dependable and reliable mortgage broker filled???

If not, I'd like to apply for that position. :D

-Excellent communication (I won't go MIA on you...even if I have bad news)
-Personable
-Good to go in all 50 states
-100 lenders to choose from (actually work with only about 10)
-Efficient (have a 3 person team in place)

I look forward to hearing from you!

Welcom Dave!

You're in the right place. Soak it all in and please feel free to share your knowledge with all of us.

Mannn, I envy you. You're in the game at 21!

You're on your way!

I have that book and love it!

It's definitely changed my mentality about money. I love the breakdown on the differences between assets and liabilities.

The biggest thing I think I got from it - mentality change.

The actual steps on how to go from A to Z aren't quite there, but I think the book is meant to just change your mentality to think like the rich.

It all starts "upstairs"

:D

Welcome Justin!

Please feel free to hit me up with your questions.

To your success!

Thanks for the advice everybody!

I totally agree with the "if the numbers work" idea. It's pretty straightforward.

My concern is getting scammed in some way by a "local investment group".

The guy I'm talking with now does sound legit, so I'm not too concerened, but you never know.

Views but no opinions???

Experts where are you?????? :lol:

I'm in California and I'm looking at a few opportunities in Texas.

I've heard of people buying property unseen and putting all their faith (and trust) into a local investment group.

If the people you're working with are on the up and up, you've seen pics of the prospective investment properties, and contracts and title are good to go....is there still a reason to actually visit the property and meet the people you're dealing with?

I'm a mortgage broker and half the time I don't even actually meet the people (usually attend signings, but some cities I do biz in are like 100 miles away).

Thoughts?