All Forum Posts by: Raeshelle C.

 I think I can find some multifamily homes at $150K if they're foreclosed. Do you know much about foreclosed homes? Would that be a good idea or not?

 Wow, that sounds really doable. I think I can save $10k by sometime next year. I feel a lot more hopeful now!

Thanks everyone for your advice. I forgot to mention in my post, I used to save $800/mo for my house and lived with my mother. But now that I have to pay rent my monthly savings have been cut in half. All my life I've worked hard and have struggled. I accomplish everything I want to do. I just didnt want to be old when I did buy a house. I'll consider a second job. Thanks again. 

I want to buy a duplex and live in one of the units. My ultimate goal is to have a portfolio of real estate and be wealthy, but I want to start with a duplex I can live in. If I had $20-$35K I could start this path of financial freedom, but saving that much would take years and years. I want to start now while I'm 26. I took a home buyer 101 class that gave me a certificate that acts as the down payment for a house in Boston, but houses up there are too expensive. I wanted to take another class to get the certificate, but to take a multifamily home buying class and in the south coast where I live, but there are none available. I've thought about crowdfunding and looking for investors but i dont know...I feel like I know where I want to go but I cant because I dont have the money to get started. What can I do to get down payment and closing costs money so I can buy my first duplex while young?

Hi guys, thanks for taking the time to answer. Once I save enough money I will apply for the FHA loan. It sounds like a great opportunity. I have another question if someone can help me understand. How much were your closing costs usually after putting down 3.5%?

And how much per month do you usually save for the management company, repairs and possible vacancy and other expenses? 

I've never done this before. I live in Massachusetts and am 26. I have been out of college for a year and have been working full-time for 4 months. I have been saving money. What is the least amount that I can save on a down payment on a 3-4 unit home? I plan to live in the house and then move out later down the road. And I plan to buy a second house, then a third house and so on. 

Saving $20K would take too long though. I can save between $5K - $10K. What kind of mortgages can I apply to with this much money as a down payment? I'm also scared if I save 20K and then use it all on a house and the investment doesn't work out, I'd be out of 20K. I do not have any military experience or anyone in my family who's been in the military. My plan is to eventually be financially free. 

I one day want to own multiple single family rental properties. I read this article and this guy owns a lot of properties: http://www.biggerpockets.com/renewsblog/2014/03/30...

What is the best way to own multiple properties? How do you feel about the technique of saving 100K and taking out 5 loans and letting the tenants pay your loans? Or is that way too dangerous and advised against? Also, by doing it that way there probably wouldn't be any extra cash....any feedback on this?

Are there any wholesalers in MA who can recommend title companies here that are investor friendly?

Hi, is there anyone I who can mentor me as far as wholesaling goes? I really get started wholesaling now. I've spent all summer reading up on it and now I want to finally do something. Is there a mentor who can guide me through my first deal? Or a group looking to add an additional person? I know you have to first get leads and find cash buyers, but I'm inexperienced and so I wouldn't know how to structure a deal in a contract, and I don't want to get stuck with a property and the taxes etc. It's those fears that's keeping me from actually doing it, so I would like a mentor to guide me.

 I want to talk to both for different reasons. As far as "people who know about it", yeah obviously. That's why I'm here.