All Forum Posts by: Michael S.

we live very small and very cheap. the reason I would like to live in my next potential rental is better financing, closer to jobs, and near the soon to be grandparents :) . Moving would be very easy. the SFR's i am interested in are in the 60k-80k range, most don't need major rehabbing just small things. very blue collar areas. duplex's in general are hard to find in my area. most are around the 250k range which is too high for me but I have found a few.

if I move from my home and turn it into a rental it should gross 850 month. and then the only debt I would have is the 1st/2nd mortgage for the potential rental.

after paying my home off I am wanting to jump into to real estate head first. I am having trouble deciding if I should buy an investment property, Live in it and rent my current home while fixing up other property. Or should I buy duplex live in one side and rent the other side, plus my home?   

The hardest thing will be trying to get my wife onboard. As we are expecting a child around when this will take place (spring 2015).

I am looking to pull some equity out of my paid off house. would it be wise to pull out enough for 20% down or should I pull out as much as I can to put on the investment property? (my home is worth about 80K)

Thank you everyone for these great ideas!

wow that's great advice from everyone! thank yall so much. I took me only 2 years to pay off my property I live in, off. I can easily do it again and again. I really like the Heloc route. but should I pull all the equity out and use it for the whole purchase of a property or just enough for a down payment?  

Louisville KY resident here. Just looking for some advice on what I should do next?  My personal property is paid off so I am literally debt free. I am not tied to my home and will not live here for a long time (not against renting it out). just looking for some guidance on what I should do real estate wise? basically for those of you who are successful real estate investors what would you do in my shoes?  Thank you

Wow thanks! I appreciate the feedback. Do you see a difference between 3/1 vs 3/2 rents? Because a lot of the homes I look at seem to be 3/1 SFH. Im very neverous starting my second house I want to be ahead of the game Knowing if certain areas and/or 3/1 are a waste of time.

where are some of the best areas in Louisville or surrounding areas for higher quality rent? (meaning how much house cost vs how much it rents for) for some reason I like Hillview Mostly because of blue collar workers. but I was wondering about Mt. Washington and or Shelby county? wondering what yall have had more success with.

also is there much difference between 3/1 SFR vs 3/2 SFR? Yall have way more experience than me, I would like to pick your brains. Thanks!

North Dixie hwy for Multi-family units. but they are in a rougher area. Single Family homes are whats really good for the Louisville area.

Thank you! should I open a business account and start a doing business as (DBA)? Whats a good way to advertise?