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Updated almost 9 years ago on . Most recent reply

User Stats

4
Posts
1
Votes
Lawrence Mangalindan
  • Residential Real Estate Broker
  • Elmwood Park, IL
1
Votes |
4
Posts

Need help for financing investments

Lawrence Mangalindan
  • Residential Real Estate Broker
  • Elmwood Park, IL
Posted

This site is great!, the podcasts grew my desire to get into investing going towards financially independence.  Based on my extensive research, I've decided that I'm going to niche on rental properties in either Indiana, Tennessee, or Texas and my goal is to get at least 10-20 this year.  I'm a real estate broker also starting out, I get clients here and there but I don't have a job where I'm receiving regular paycheck and so far I've got a bruised credit around 580 due to student loan and a hospital bill and I've been clearing my other debts.  I really want to take action and I don't want my credit situation get in the way of financing so can you guys suggest what else can I do to set up my financing? I would truly appreciate it.  I'm also gonna pick up the "No/Low Money Down" book as well.  Thanks!

Most Popular Reply

User Stats

1,374
Posts
913
Votes
Adrien C.
  • Property Manager
  • Griffith, IN
913
Votes |
1,374
Posts
Adrien C.
  • Property Manager
  • Griffith, IN
Replied

what's the size of your emergency fund? You talk about irregular pay. Adding rentals increases your risk. Vacancy and unexpected repairs could turn a good situation bad quickly. As much as you want to get in to rentals- highly recommend  having a solid emergency fund for the rainy days. 

  • Adrien C.
  • Loading replies...