All Forum Posts by: Zachary S.

@Jared Vidales I appreciate the help. Time to do a bit of leg work.

Is it worth looking into other potential markets that still allow B2R financing?

Hello Everyone,

It's been a while since i've posted on here but i've finally finished graduate school and have put away enough to pick up my first buy/hold (roughly 20K with another 10K free to play with).

Being from CA where it can be difficult to come up with enough financing to house hack i've decided to look at the Ohio market (specifically the Parma/ Cleveland or Columbus Ohio areas) and have an out of state rental as my first cash flowing property.

I'm looking to pick up either a single or multi family home but i want to avoid getting the low cost/ high risk properties in the $40,000 range. Ideally i'd pick up a single family home for 60-80K or a multi family around 120k in a good school district. 

I'd love to hear any feedback on the idea and also connect with any wholesalers in the Parma or Columbus, OH areas that might have potential opportunities. Also, if anyone knows of any hard money lenders in the area that they recommend i'd love to hear from them as well.

Thanks in advance!

I'm new to RE investing and have found an interest in Performing and non-performing notes and am currently trying to absorb as much as possible on the subject. I have been reading a lot of forum posts and listened to a few podcasts on Note investing and am getting a better grasp on how it works but i keep coming across the term "balloon Payment". Can anyone explain what that is / how it works / and why it's beneficial. 

The help on this blog is wonderful and i recommend podcast #28 to anyone trying to learn about investing in Notes!

I appreciate the responses everyone, its awesome how helpful everyone is on this forum. 

My student loans will end up right about 50k with 1 at 5.7% and the other 6.5% when i finish which certainly isn't as bad as some but still going to be a while before I can pay it back. Although in hindsight perhaps not continuing school would have been the better option i'm here and trying to figure out how to secure my future financially. I think like everyone on here mentioned investing now is definitely the better option if I am serious about financial freedom down the road.

@Jeff McCaskey Thanks for the great feedback and i agree that better planning ahead of time would have prepared me for this a little better. I think a huge problem in education right now is the lack of preparation for what type of debt kids (me included) get themselves into when going off to an expensive university .

Knowing that I will be investing on the side while working a full-time job, I think that acquiring a few Cash Flow properties rather than wholesaling or flipping is what i want to pursue. My major concerns right now as i try to develop a business plan relate to acquiring financing - 

1. What kind of financing will I qualify for? Will having these federal loans impede my ability to get decent conventional financing or will I need to look for outside help. Should I start meeting with local banks and lenders to see or how should i go about it?

2. To plan for the worst and as @Fredrik Lundström  mentioned- if a property does goes south which can certainly happen, what would happen to student loans i can't file bankruptcy on. 

Anyone have any good suggestions where I can learn more about this or possibly some good forum discussions that have already broached this topic?

Hi everyone,

I am in the last leg of grad school and just recently took it on myself to start learning about real estate investing. Since then I have started reading a few REI books that everyone seems to recommend and try and listen to the BP podcast anytime I jump in my car which is great by the way. With college almost at an end, I will have a little bit more time on my hands to really jump in and learn the various aspects of REI but want to know what everyones thoughts are. My long-term goal currently is to buy and hold but like I said I am still just getting my feet wet and trying to absorb as much as possible.

A problem I keep running across when thinking of how i will begin investing is that when I finish grad school in the next few months, I will need to start paying back some of my student loan debt i've accumulated. Has anyone had any experience or been through this? Is it smarter to try and pay back the loans as soon as possible or should I try and just pay the minimum and use the excess income to invest.

Any thoughts would be awesome especially if anyone has been or is currently going through this right now.