Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 11 years ago,

User Stats

74
Posts
9
Votes
Bobby C.
  • Owner / Investor
  • Oakwood, GA
9
Votes |
74
Posts

Financing reality

Bobby C.
  • Owner / Investor
  • Oakwood, GA
Posted
All, I am posting this in order to see how realistic I should be about my investing goals. I currently have 2 SFR's, one through an FHA loan and one acquired with cash earlier this year. Both will be rented by next month and I will be taking in a good cash flow from them. My plan is to put a mortgage on the home I bought with cash, I should be able to take out around $50k and I will use this as a down payment on another larger multi-family or buy another SFR that can cash flow just as well as the other two. I do not have the best credit but have not had any negatives since around 2007 when I hit a bad spot. My score is around 630-650 with the 3 agencies. How realistic am I being that I would be able to take out 2 mortgages in the next 6 months or so as an investor? I am on a bit of a time crunch as I believe that the job I work at may not be around in the next year, and plan on using my investments to help replace my income. Thank you in advance

Loading replies...