All Forum Posts by: Account Closed

my goal is to get a good PM.. other areas i have interest in is Naples Fl, charlotte NC they seem to have some houses in the 30-50 range.. I think in naples i can hope the market will rebound and I can gain apperciation on the house and positive cash flow! Of course it seems too good to be true also. I did check into the region and it is a very poverty type of neighborhood which maybe not good despite how cheap the houses are.. The one i looked at is on here and is 24,000 and she said she would manage it for 12% so if I bought it I would receive about 300 cash flow.. I read the 50% rule and that is something about all your expenses should be 50 percent of your rent. Of course I read it may be smart to take 20k and use 10k for two properties instead of dumping it into one..

hello fellow investors!

I am a 21 year old who has saved up some money (only problem is I live in CT houses are expensive) lol and I'm looking to get started in the right direction. My goal in 10 years is to have 5 or 6 rental properties for extra income and increase my net worth! I am looking to get started on my first deal soon I just need some advice.. I contacted a lady in Rochester for a house for 24k. The rent is about 750 and after your minus management fees and insurance and such i'm probably thinking ill get 400 a month of pcf. It is section 8 and I am nervous about the type of people who may trash it.. Do you guys have any good books to recommend or any advice for a first timer! Thanks John