All Forum Posts by: Owen Schwaegerle

They just passed one of those in San Luis Obispo where I'm from. It has been met with lots of protests and an outcry from landlords and people in general. How long has your RHIP been in place?

Check your local Craigslist for local rents. Also, try rentometer.com. It may be difficult to find good tenants if 1% is above the asking rent for the region. The 1% rule is a rule of thumb after all, you want to find something that works for you. Always add in 50% for costs of operating the property too

That course seems great if you want to do RE in California! Any of those courses will help you understand real estate better.

 One place I've heard recommended to get your license is the online Allied Schools. A lot comes included in the price for $288. They're systems seem pretty smooth.

http://www.alliedschools.com/re_salesperson_licens...

Remember, the best way to start the new journey in any field is by getting started. Once you've looked at a few options online, commit! Just dive in and give 110% effort to it. You will get a license and be certified to buy and sell properties, and just one step closer to achieving your goals. Whichever training you sign up for won't matter as much as the experience you will get by applying that knowledge in the field.

Learn by Doing!

Thank you @Becky Spivey and @Deepen Patel for that sound advice. I will be sure to read the fine print before purchasing a property. It also would not apply for an investment property, but could it apply for a duplex or a 4plex where I live in one and rent the others out?

@Tiffany Young I believe it. When I saw the product being pitched in commercials I thought it was building up to 2008 all over again.

@Solomon Young Thanks for fact checking! Wells Fargo is partnering with Fannie Mae to offer a similar product. The article you posted is a great source!

@Chris Mason Thanks for the commercial. What is the commercial you originally posted about?

Hi Everyone,

I am a young, aspiring investor and want to purchase my first property within the next year or two. There are a couple of big banks out there that are doing conventional fixed-rate mortgage for as little as 3% down. These lending options allow for people with credit scores as low as 620 to qualify.

Some of these mortgages seem like great opportunities, but is there a catch?

Why would the bank give out such a huge loan to borrowers that have weaker histories of repayment?

Is this a good opportunity to get the cash to buy a property?

This is my first post on BP, and I am interested in learning all I can from the community here. Thanks so much for your advice!