All Forum Posts by: Preston Dean

Hi Krystyna, 
So I think its possible to do something like this, but if you do I would just highly advise on laying out a strict plan on how you intend to pay back that down payment and do it before the credit card interest kicks in.

I've funded a small rehab on a kitchen with a 0% APR Home Depot credit card and just paid it all back before the interest kicked it. It was worth it in my opinion, but a DP is a lot riskier, but again it can be done! You'll just have to have the funds in your checking account well before you go to buy the property

This is an interesting situation you have. If you haven't already, I would check with a title company. I am in Fort Worth, Texas and might be able to point you in the right direction depending on where you're located  

Hey Thomas,

If the electrical wiring is working fine, I would just get it up to code as needed.

Hi George, 

Welcome to BP! As a long time Bigger Pockets podcast listener its very rewarding to hear the stories and then read about them in the Forums. 

My suggestion to you is to get into RE investing with low money down & do it the house hacking way. IE - buy a property & either rent out the rooms or buy a duplex and live in one side & rent out the other.

My wife and I did that and it was such a great and rewarding way to get into RE investing!

Oh man I heard this one not to long ago, its one of the older ones with Josh D I would guess in the low 100's

 Hey Mark, great question!

To get a starting point I would suggest checking what some townhomes are renting for on Zillow. If your looking to not pay a mortgage at all then I would take your mortgage and just divide it by 3 and charge each room that amount

IE.

$2400 mortgage divided by 3 = $800/door and considering your in Miami that is relatively cheap rent. AND considering its a new build your going to be able to get more rent for those rooms.

 Hey Aja, welcome to BP. I am very familiar with NW & am in touch with the NW agent here in Fort Worth often. Happy to meet you in the forums! BP has changed my life and I'm so thankful for podcast! If you haven't listened to it yet, you've gotta give it a listen!

 Hey Marlene! 

Welcome to BP. I recently was able to house hack my way into our first rental and it checks the box for the 1% rule so that's exciting! OPM is a cool way to get things done in a timely manner and is a win win all around! I'll get you connected with my wholesaler here in FW, he can help get you connected with people in UT.

 This is essentially what a wholesaler would do but in a different order. Find a property, find a buyer, connect property and buyer and receive an assignment fee. 

What's going on Andre! welcome to BP. I am a realtor in FW Texas and would love to connect and help answer any questions you might have. I have referral partners out that way that I can could help you if needed.