All Forum Posts by: Allan Anderton

I am a total noob but I have heard mentioned on several podcasts that getting it under contract would be the logical step ATLEAST it secures it for you... IF it is a bad deal then put in contract a stipulation that would give you a exist such as DD but atleast that would get your foot in the door so to speak that is what I would do secure it then look it over do your DD and re run your numbers gl let us know how it goes

Thank u i am hoping to put a huge down payment to make mortgage as low as possible i figure i could pull some from 401k as it would just pay myself back at no intrest heloc and hoping 20-25k down would u advise putting all that down or say put 5-10k aside for potential none renter time frames 

I wish i could tbh but yeah the wife loves this house or i would of done that already

Oh i am ready lol its giving the wife the security thats always hard😂 my agent says duplexes are rarely on in my market as well 

hello I am new to BP I have listened to every podcast:) I do have a question though I have my home now of about 2 years sadly I didn't think ahead to buy a duplex... and am working on getting my down payment for my first rental. I have "I would guess" 50k equity in my house probably closer to 70k here is my concerns that maybe some of you much more advanced people could help me with please. my first fear is I have my normal mortgage and IF I take the equity out basically it creates a second mortgage with a HELOC and using that to get my rental property... BUT my wife's fears are WHAT IF a tenant moves out then I would have 2 mortgages and a HELOC to pay for how did some of you get past this fear? is there things maybe some of you have come across that me being a noob haven't thought of I just want to be as logical with my first property as I can. I believe the first rental is the risk after that your feet are already wet so to speak any help would be great thanks in advance