All Forum Posts by: Nana K.

hey guys, 

Am buying this 3br with a six year tenant occupant with cash for $34000 and renting for 600 a month. Has lots of upgrades and no near future maintenance such as roof. I wanted to know if first it's a good, I think it is but what do you experts think. But also what other fees should I be expecting to paying beyond the $34000. 

Thank you. 

hey fellows,

Was wondering if you know any portfolio lenders in and around Columbia ,SC. I wanted to start developing a relation with the bank now. Any advice?

oh ok that scared me a little since I wanted to use as little as 10% down payment on my first four properties. 

Thank you guys!!!

I wanted know how accurate this claim is:  Homepath will end October 24. Is that true?

Its unbelievable that you guys take your time to even write a line on my question. Thank you guys all.

@Sharad:
Thank you sir, I do have a contract on one property which is 86k and with 10% down, PITI $654. i factored property management to be 120 but wont use them now since its my first. I factored 150 monthly maintenance. Rent income is $1200 or can even do $1250 if i upgrade kictchen with backslash and stainless appliances. am not sure how to quantify vacancy but overal possible cash flow around $350 monthly, take 1 month out for vacancy and year cash flow maybe be $3000. not accounting for taxes, depreciation and equity built. I think my numbers are accurate but am open to all advice.

@George P.
Thank you George, yeah I set it high enough so I will be chased by a pitbull goal which will make me run faster with purpose than a chihuahua goal. All said though, be ready for me to bug you with questions on how I attain this goal.

@Anil
Thank you sir. By using my w-2 rat race pay, family pocket, private lending and hope to be very experienced in creative financing like subject to.

@ hello Seth sherman, surely will be a different thing as a real landlord. Am here for the marathon.

@Daniel Guillermo
Its a crazy feeling but yes I have one under contract and already looking to pick up at least 5 by the end of the year.

@Andrew Lanoie
Thank you sir. I hope to have a mentor soon who will help guide me in this path.

and am not sure but is it normal that all I do and want to do is to read and listen real estate. I wake up reading real estate books like am in college prepping for an exams. I barely watch TV anymore ( and the reason why private jets and Bugatti and Lamborghini cars are not advertised of TV because the people that buy these barely watch TV) well after the World Cup. And lastly BP is a Blackhole!!!! When you get sucked into it, that's it, I love the education I get from here. Thank you Josh for making all these possible. 

Hi guys, 

My goal is to have $20000/ month in three years after taxes from real estate. After many months of educating myself through podcasts on BP, forums and also YouTube videos this is what I hope to achieve. I have developed relation with a realtor who understands what I want as an investor. A lender has approved me for 10 homes with 4 homes requiring 10% down if they are homepath homes or 20% on all SFH,and lastly 25% if 2-4 units . I have a CPA who also knows my plans.

I do have a decent job and great credit but very less savings because I sent a lot back home for a projects until I realize how leveraging in this market can propel my goals faster. 

I intend to buy at least 5 SFH each year and shot for $80 to $90 000 homes with very little reno cost that rent easily 1300/monthly. My market is great for families and also has highly rated schools. I will like to use creative financing like subject to after buying maybe 3 SFH. Any advice as I start this journey.

hi all!!!!

Newbie and I must confess am totally obsessed with this black hole called biggerpockets. It's being a great leaning process as a set things up to dive in soon. I pretty much listened to all the podcast and re- listen to the guests that are doing what I would love to do also. By the way any mentors in Columbia sc or around? Would love to treat you to lunch while I pick your Brian on our Columbia market. But seriously Josh thank you. You have surely paid your dues back to nature.  

Hello BPers,

I really do enjoy reading your post and also your blog. I wanted your take on my situation.

Monthly income is 6000. Expenses is 3000. Stopped 401 k contribution up to employer match.

With this, how do start a buy and hold strategy?

My wife will be finishing residency soon and we know she will be bringing in three times what I make now but I wanted to start REI now so I will master it and when she is done with residency and I can be a full time investor. I have prequalified for loans at 4.8. % with 90LVT on homepath homes or 20% down for all other homes up to 10 homes a lender. I have really researched a lot about REI and read many books and asked so many questions. I know am ready to pull the trigger but cash money is holding me back. I am a new medical professional and sent a lot of money to my homeland and thus less less savings. There are numerous turn key homes the market am looking at and many are the usual 3:2 @70000 and comp rent are 900 to 1100. Great school districts. All advice and criticisms welcomed.

Thank you.

I wanted to know if its ok for me to start with a line of credit and/or a credit card. Line of credit interest rate is 9% of 50000. Credit card rate is 11% but 14 if cash advance, limit is 25000. I do now have a pretty well paying job and know I can pay them off but need to leverage and start NOW!!

ANY ADVICE WILL GREATLY HELP.