All Forum Posts by: Arlet Rodriguez

I found a property selling for 25k, an auction. It's 20 minutes from Johns Hopkins University/hospital, near the Baltimore inner harbor and many other things. The neighborhood crime rate is a B; the property is a total teardown. I want to turn it into a unique tiny home experience and/or rental; my cap rate would be roughly 31%, netting a little under 8k in the first year. In total, I will need about $100k. My regular business partner is super hesitant because we have never done any rentals, and as I said, it's a tear-down. Unfortunately, I was pretty irresponsible in my teens and have no savings but an income of 132k/yr. What financing options do I have? Should I even bother? 

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@Marshall White 

I am in my research & save phase, I want to save for the next 2.5 years and then start putting my plans in action.

Hi!

I am new to this whole real estate thing. My goal is to reach financial freedom through passive income by 45. I am currently 20. I have about 6500 total debt(student loans and private loan) excluding my car (20k). My annual salary is 39k and my DTI ratio is low 30's. I have absolutely nothing saved up. Just recently started a roth ira and 401k. I plan on paying off the 6500 by the end of the year while trying to save each month. I guess my question is, is my car payment going to affect me getting a loan? Maybe my age makes me higher risk? My credit score is 780-800. What type of loan would be most beneficial? I have been looking at MFHs and duplexes. I also plan on house hacking.