All Forum Posts by: Johnna F.

Welcome Rob! Fellow NE Pennsylvanian here. Good luck with your property 

Looks good! Teach us your tricks

You might as well ask.. how much does a house cost?

I'm sure you could gain a few pointers from Dale Carnegie. If you have time to pause life and pick up a book, I'd recommend his classic "How to Win Friends and Influence People". Good luck out there! 

@Dennis M.

Haha sure.. "Sorry, there's currently a bidding war between Kiyosaki and Grant Cardone"

Sounds like a great idea.

There's a NEPA real estate meetup that meets monthly, but it's in Pittston. I've been to it before, but I'd really prefer one in Scranton! 

We experience fear for a reason. It keeps us safe, but it can also hold us back throughout our lives. I think a little bit of anxiety is good because it means you care. You're not going to go blow all of your money.. it'll make you stay alert, do your due diligence, and make sound/rational decisions. Take your time, learn all you can, and when you feel ready.. take the leap! You won't accumulate wealth playing it safe and never taking risks.. at least that's what Robert Kiyosaki preaches.

I applied for a mortgage shortly after graduating with my master's degree and banks did give me a bit of a problem, but I kept going from bank to bank until I found one that would work with me. I didn't give up. They all wanted to see at least 3 years of consistent work experience, which I definitely had, a healthy debt to income ratio, and of course a good credit score. My debt to income ratio was great, but the student loans did make a negative impact on that. In my experience, all of the banks use the standard repayment amount when calculating debt to income.. even if that isn't the plan you are on. I was paying a much lower amount because I was on an income based plan, but that didn't matter. Also, banks see you as less of a risk when you're buying a primary residence instead of an investment property, even if that means living in one side of a duplex and renting out the other to start out with. A lot of people are struggling with getting mortgages after acquiring so much student loan debt, but it's very possible.. don't give up!

I like the idea of single family investments because it's an easier exit strategy if you ever need to sell/liquidate, less disputes between tenants (no noise complaints, fighting over parking, etc), increased long term tenants (blue collar families), and I think that tenants in single family properties tend to take better care of the place like it's their own.. often times handling lawn care and other small things themselves.

If you're motivated enough, you'll find a way. Watch YouTube videos, read books, Google 'how-to' articles, look up tutorials, and get out there and DO it. I'm self taught and have learned the importance of doing. You can only read so much and then you learn on the job. There are certain things you won't mind doing and might even enjoy, while there are some projects you might hate and curse your way through.. and that's when you have to think about how much your time is worth and what type of things you want to trade your time/money for.