All Forum Posts by: Anthony L.

Is a $120,000 loan, paying a $1,000 a month a lot of money to start when investing in property? I have very small expenses, I live at home, under 25 & make between $60,000-70,000 per year as of right now.

Hey Guys! thanks for your response. Let me clarify.

I am currently buying a family home which I will be living in, however, I am being gifted the profits of 120K. However, on that loan I would be responsible for $1000 per month on that loan. I was wondering if this is a good investment, considering any property I do own, I would have to be responsible for covering the investment property expense, additionally - I would be responsible for covering the $1000 per month on my own property.

I am asking because I live free now. Its essentially a question of is the $120K worth borrowing for $1000 per month if I plan to invest in properties?

I am currently starting out getting involved in the real estate world. I am seeking funding and one option I have is I currently live in a reversed-mortgaged family members home. I plan to purchase the home from them, and they agreed to split majority of the profit with me.

After all is said and done, I would walk away with $120,000, paying at most $1,000 after splitting the payment with the person I am living with.

I work full time - but dont want to spend my 'actual' money. I want to reinvest the $120,000 but I am afraid that I wont be able to recover the $1,000, plus whatever mortgage I may have and profit after CapEx and other variable costs.

Essentially, I need to understand if this is an opportunity I should take or something I should reconsider.