All Forum Posts by: Trey Read

Just curious, why aren't you considering an FHA loan?

I am considering one for my first purchase and I just wanted to know if there is a specific reason you are staying away?

-Trey

I'm not a super experienced investor but I would say no. Mainly because it sounds like you are using the profits from your rental to pay for your current home. If I were in your shoes, I would use your primary income (Full time job) to finance the house you live in, AND take all the passive income and invest in a second property, and repeat. 

I'm not saying it was a bad deal, as long as there is cashflow it usually isn't a bad deal. I would say the use of the money generated by your asset (trailer) is contradicting your plans of living off of rental property income, if that makes sense. 

-Trey

Where can I find the webinar if I missed it?

50% rule. 

(Monthly Rent income * 50%) - Monthly Mortgage Payment > 0

If this equation is not true, it's generally not a good deal. 

As the years begins I have made (what I presume to be) a solid plan to get started. I graduate college and start my full time job in a few months and I anticipate moving out of my parents after buying and rehabbing a duplex/triplex in the Columbus, OH area. In my 2016, one of my goals is "have 2 occupied rental properties before 2017". I like big goals. And I think for only having a full time job 6/12 months in 2016 this is a pretty big goal for me. So my question. Assuming I acquire a duplex and I owner occupy, how would most go about financing another property? Refinance?... (but what if I don't get enough cash on the refinance?). Just curious what approach someone who's been through this before was. Thanks! Happy new year!

I really wanted to stay away from multi families simply because of retail value on an exit, limited market selling to investors only, but it looks like that is the best way to get started. 

I appreciate everyones input! 

Also, Joshua, I love the strategy of the BRRRR method! I can see myself using it a lot since rehabbing is where all my experience is currently.

I am 22 years old and looking to start investing in SF rental properties. 

With a Full-time job making 57k salary, a low down payment, what would be the best way to finance properties initially? 

Also What would be the best way to keep purchasing additional buy and hold properties (e.g. line of credit on other assets)?

Private lending? Mortgage? 

Thanks!

I am currently working on my Bachelors Degree in Construction Management and I plan on investing in single family/duplex properties upon graduation in August of 2016. 

I grew up building spec houses and renovating existing homes. Those experiences are what sparked my interest in real estate and opened my eyes to the investment opportunities. 

I am an active listener of the BP podcasts and I am here to network and continue to expand my knowledge so I can have a better chance at succeeding with investing in my initial properties.