All Forum Posts by: Patience Echem

Thanks John. I will check that out.

Thanks Joe for the reply. Pulling out cash to pay interest is not a wise move unless of course the tenants had paid down the debt which in this case they haven’t. 

Thanks Jonathan. 
The home is a 3bed/ 2 b built 2005. 1606 sqft in decent condition. Listed for $270k. 
Can you explain what you mean by spreading the 300k? My goal is more appreciation than cash flow but would definitely avoid losing on both ends

The links have practical information. Thank you for sharing.

John,

What’s a single malt scotch? I am really a novice here.😁

Thanks Nick. To provide more information, I am in the Nashville area. Totally new to real estate. I have made just 2 real estate transactions. We tried renting out our first home when we bought our current one and had to sale because we could not manage it well. Fast forward 10 years later, I want to try again. Ultimately, my goal is asset diversification since all I have outside my primary residence it in the stock market 

 I posted this in starting out but got no response. I hope this is the right forum. Still feeling my way around here. Before I sign on the dotted line, I would like to get ideas on the best use of the available seed money I have. I am a middle aged woman looking to get into real estate. Currently, I have $300K in cash that I want to use and buy a rental (SFR) property selling for $250K. My plan is to pay cash and wait until interest rate improves, then refinance and pull out $150k for a down payment on a second property.

I will like to know if this sounds like a good use of this money. I am hopefully, 9-10 years away from retirement, and plan on owning 7-10 rental SFR in that time frame. So, before I close on this house, I would like to hear all ideas on the best use of this money taking my goals to account.

Before I sign on the dotted line, I would like to get ideas on the best use of the available seed money I have. I am a middle aged woman looking to get into real estate. Currently, I have $300K in cash that I want to use and buy a rental (SFR) property selling for $250K. May plan is to pay cash and wait until interest rate improves, then refinance and pull out $150k for a down payment on a second property.

I will like to know if this sounds like a good use of this money. I am hopefully, 9-10 years away from retirement, and plan on owning 7-10 rental SFR in that time frame. So, before I close on this house, I would like to hear all ideas on the best use of this money taking my goals to account.