All Forum Posts by: Robert Stephenson
Robert Stephenson has started 1 posts and replied 4 times.
Post: Older Investor needing help getting a Second property
- Fort Worth, TX
- Posts 4
- Votes 2
Quote from @Melanie P.:
There are sources to obtain the financing you want to buy more property. But is it worth the hassle? You start by mentioning your age... you'd need everything to go just right for the rest of your life to make, best case, $400 or less additional each month net cash flow. Any repair issues the new acquisition has you will feel to much greater magnitude due to the property carrying a lot of debt. I think you run a real risk of your second rental eating up the profits you're enjoying on the first one. Two doors doesn't provide any sort of scale to make the cash flow more predictable. i would think hard if this is really worth your time, money, and effort...
Post: Older Investor needing help getting a Second property
- Fort Worth, TX
- Posts 4
- Votes 2
please explain....two doors.???
Post: Older Investor needing help getting a Second property
- Fort Worth, TX
- Posts 4
- Votes 2
about $15k for down payment
Post: Older Investor needing help getting a Second property
- Fort Worth, TX
- Posts 4
- Votes 2
Hello,
Am an older investor seeking help. I own a 2bed/1 bath property in the Fort Worth Tx area. We I purchased the property, the previous owners updated the plumbing, adding HAVC and updated the electrical. It has rented well over the years. Currently, I have about $20K left on mortgage and estimate value is $175K. This is the only property that I own (other than my homestead). Am wanting to purchase another rental property but down have the funds other than the equity in the current rental. Are they wants to leverage the current property that I have to purchase another. Right now the rental has a cash flow of $250 per month. The rental should be paid off in about 3 years. Thank you in advance.