All Forum Posts by: Robert Schumacher

I think you will find 6-12 months depending on the lender. I paid cash for a property and my bank required a full 12 months. I had another lender that said 6 months but I've loyal to my mortgage banker.

Ginny Shaw Your 4 plex should bring in a nice income, especially because you have no debt to support. It's very conservative but staying in your comfort zone is wise. Our duplex mortgage only needs 1 tenant Our 4-plex needs 2 units occupied Our 5-plex needs 3 units occupied This is the reason I like the Multi-plex units and the reason we expanded past the single family homes. Be careful not to overbuild for the area. Spending $6000 to rehab a unit means you will need to raise rents by $100 a month for 5 years just to break even and after 5 years you looking at old carpet, etc. Good Luck

I would be transparent and have this discussion with your mortgage company. If they tell you that it's okay, I would get it in writing, and place it in a safe deposit box to make sure it's never lost. Good Luck.

Fun Question but my answer would change every few months depend on what "Experience" I was most interested in exchanging the money for. I'm a Husband, Dad, & Grandfather and so I would have to pick depending on where I was in life. This is also the reason that I've invested in real estate because I'm planning to be able to splurge on creating these experiences with my family. Today - I would purchase tickets to the Golden State Warriors Finals. Go Dubs !!

Tony Choe I want to challenge you to find a way to get started. There are places in CA that you can pick up between 60k-80k and if you put 3.5% down, you may be able to get in. We bought an 80k unit for 60k, spent less than $900 on getting it rented. It currently rents for $795. Stay focused and analyze transactions regularly.