Lucas Carl if I'm reading correctly then it's a wash?

Next find a tenant, and then take a hard money mortgage or standard mortgage on it for 80% of fixed value (80k) and add the difference of 10k ( 80k loan - 70k all in) to my 1/4 mil investment pool.Then wash, rinse and repeat as many times as I possibly can.

That advise sounds a wee bit self-serving I must say.

However, if you're planning on living in it, you will give yourself plenty of time to let the stigma of being in a "flooded house" wash away from potential buyers 4-5 years from now. 

Jassem A.

All though I just got a 7 figure line of credit from a bank out of state but it took 3 years and a we have pretty solid financials.

I just had bandit signs come in so I will be putting those out on Thursday with a "we buy houses" message. 

I had so many other questions that day for her too because I am so new that a lot of the information washed over me.  

So my thought was he may not be knowledgeable of our market but is familiar with seller markets and similar conditions.In the class yesterday he used an example with an 8 plex in downtown Everett.  

If you add the cost of cooling, property taxes, and so forth, the total cost of living in Texas is a wash with the total cost of living in coastal southern California.