All Forum Posts by: Preston Dean

You're welcome! Best of luck!

If you dont't have an agent combing through the MLS for you, maybe check out Zillow & filter it as FSBO.

You might be able to get a property as a "Deal" that way 

 Hi Yehuda, 
I wouldn't let the higher interest rates discourage you from investing. When putting in a contract ask that the seller contribute money to you towards interest rate buy down. This could bring your rate from a 7.5 to a 6.25 

or 

check with some new builds, see if they will allow investors to purchase some properties. They have incredible incentives going on right now. 

Hey Carolina!

If using all $40K of your finances will leave you with $0 in the bank account.. I would highly suggest against doing this deal. You don't want to be house broke. I have some wholesalers who might be interested in this deal if they want to sell it to them. 

I'll send you a connection request

 Hey Sean,

I'm going to send you a connection request so I can help you get in touch with my wholesaler here in Dallas Fort Worth. 

Hey Phillip!

I bet you would get a lot better traction/response if you posted this question on the DEAL ANALYSIS tab of the forums!

I would check with a title company that you have used in the past. They will have some good recommendations for you 

If you haven't used one, I would google title companies close by and that should help!

Hey Zac!

Welcome to BP!

I personally purchased a house and lived in it for 2 years and house hacked my way into a rental. This was the most affordable thing for me to do at the time and also let me get into RE investing easily. The house now rents for about the 1% rule (1% of the purchase price) and we're able to cash flow a couple hundred a month. Not a ton but we're building equity and having the mortgage being paid down while also providing nice affordable housing to some great tenants!

 Hey James! Welcome to BP

Although I am not in your market but I am involved with RE investing myself & my clients in the DFW area. 

Wholesaling does get a bad rap here in DFW sometimes but for the most part wholesalers are fulfilling a need of someone who is desperate. If you have the mindset that you will be scammy then you'll be scammy. But if you have the mindset that you are fulfilling a need for someone then it could be a huge blessing for them!

 That's awesome! Love to hear success stories like this,

In my opinion

I would turn your property into a rental. Move out. Purchase a small duplex/multi some with a 5% loan. Then with either the left over money you have or with some of the equity from your first property I would buy an investment property with 15-25% down depending on the lender.

That way you have 1 property that is cash flowing nicely (your first)

You have a second that you are house hacking (your current primary residence)

You have a third that is your first real investment purchase with 15-25% down.

Sounds like you are in a fantastic place to be! I don't think you could go wrong with whatever you decide to do