All Forum Posts by: Shane Brown

No unfortunately I do not, I can scrape together close to 30k maybe a little under including take from my 401k and the hit that brings. But being only 22 most of my friends do not have a huge stock of cash laying around or even thing about wanting to invest in real estate. 

The main thing with a four unit building is the price, it makes me a little nervous to be honest due to how much bigger the loan is, that is why I was looking at places around or below 100,000. 

But I appreciate all of your info it was very helpful!

Hey guys I am brand new to bp as well as investing. I just wanted to get people takes on the first steps I should take. Should I buy really cheap beat up place and rehab it to hold and rent out, or sell it? Or should I buy expensive but nice places to rent out that doesn't need any work? Do I need to have a realtor on my side or can I just drive around looking at for signs of places for sale? And what do you guys think is the best for a first time buyer, single family or multifamily homes? Thanks guys, Shane.

Mitchel that sounds, lets me know a good time that works for you and I'm sure we can figure out a time.

Darrell, 

Thanks for some of the clarification, and the pointers. It is greatly appreciated!

Okay do you have any insight on the tax breaks that can come with buying a home? Also if I should live there until it is complete payed off or rent it before then?

Thanks for all the info!

Hi everyone,

I am from Vermont I make pretty good money for my age, 22 and making 19 a hour with little to no bills. I found a house foreclosed for 50k, I have a few ideas on this. I would like to change my tax form at work for the 2 and a half months I can do max over time so I don't get any taxes taken out. Work 12 hours days six days a week get as money saved as I can, hopefully pay off half of the house cash finance the other. Being a 3br 2 bath in the city it should rent (hopefully) for at least 1200 a month. May take 10-15 in TLC but my brother is a carpenter other is a electrictian and close friend a plumber. So hopefully cheaper to fix that. Does anyone know if what kind of tax breaks come from buy a house? If I should set up a LLC in my name for this? Rent for the long run here or selling a better bet?

Hope to hear some good responses,

Thanks guys!