You are under time constraints to do a 1031, and it can lead to you doing  bad deals.

I bring capital, a real estate sales license, and lead gen/marketing to the table.

This is the first Fannie Mae financing.The RatiosI am wanting to build a fourplex and then refinance to own as an investor and even own one as owner occupied.If I understand it correctly - it works like this....1) New fourplex monthly income and expenses projected by appraiser Rents of $1500 each unit Taxes at $1060.00 Insurance at $120.002) My gross monyhly before tax income $8500Less my debts (credit cards, loans, cars etc) for first level.

The borrower has to settle the debt...it's not going away...and there are also late taxes I would bet...which are in first position in front of the mortgage.

Hello all,This is my first time here and I’m currently working on paying off all my debt (plan to be finished April of 2020) after that is done I’d like to purchase our first rental property.I’m wanting to use this time to learn as much as I can so when we do make the leap I have a solid foundation.My question is, does anyone have a To do list/ Checklist of things a person new to real estate should do before making that first purchase.

I was cut down to 8 hours a week and with no savings and large amounts of debt I ultimately had to file chapter 7....Hardest time of my life as a new father of a 6 month old and husband of a stay at home mom to tell them Daddy couldn’t pay the bills.However I have an amazing wife that helped me through everything!

To All, By paying off 2 mortgages worth around $220K, wouldn't I be increasing my home equity and also helping to reduce my debt to income ratio i.e. a factor very critical for getting future mortgages for future rental investments?

This mortgage is the only debt I have so I see it as a win-win as I personally don't have to pay as much on the mortgage and my family isn't living in a crowded space with rude neighbors. 

Maximize long-term "good" debt on education and real estate.2.

(Utilities were rounded up on my part)The asking price is $115K (in a very small town, but the biggest town within a 50 mile radius).Monthly Rent                                          280010% Vacancy                                        -    280Gross Monthly Operating Income     252010% Property Management                   28010% Repairs Maintenance                      28010% CapEx Reserves                                280Property Taxes                                          280Property Insurance                                   200Heat                                                             270Electricity                                                    225Water                                                             75Monthly Operating Expenses              1890   Total Annual Operating Income           30240 Total Annual Operating Expenses     - 22680Annual Net Operating Income             7560Purchase Price                                    115000Cap Rate                                                6.57%25% Down Payment on Loan             28750Loan Amount                                        86250Closing Costs                                             300Length of Mortgage                             20 yrsAnnual Interest Rate                              5.0%Total Annual Debt Service                  6831Annual Cash Flow                                    729Monthly Cash Flow                                  $60Cash on Cash ROI                                   2.3%When I first saw a "6 unit apartment for only $115K" I thought it was a gold mine.