All Forum Posts by: Ashley E.

Hello and good morning everyone! I was wondering if you pros have any tips or experiences to share about purchasing property out of state for rentals.  What are the pros/cons... Stories (good, bad, and ugly)... And would you recommend it if the market around your demographic is not yielding as much progress as you had anticipated?

Also---if you purchase a rental property in another state, could those of you who have investments elsewhere explain the tax implications (very generally, of course)?

Thank you! 

yeah unfortunately I haven't figured out a way for a 100% seller financed deal to make sense, but I am keeping my eyes open. For it to be profitable for me, and for me to make rents from tenants, I would have to be paying as little per month as possible, so I would almost rather put a down payment on the property to lower the monthly. I am working it all out at the moment...

The down payment also typically goes to the attorney to write the contract. I like my contracts air, water, and BS tight!

thank you Chuck, I guess if they didn't work at ALL, they wouldn't be an option. I prefer not to go that route but I would prefer not to wait years either... 

Hi everyone! My name is Ashley, and I am a relatively new investor. Due to life happenings, I have ended up with less than perfect credit, but a lump of money I may be able to use for investing... It's not quite enough to purchase a house in full, but could put a really nice dent in a payment..

So my question to you, my fellow investors, is how do we feel about temporarily putting part of this towards an owner-financed property, and refinancing it in a year or two when my credit is prettier? Are owner carries EVER a good idea? Anyone with stories they would like to share with a newbie? Any better suggestions until I repair my credit? 

Thanks everyone! 

I have received some great advice from one of the managers of this site; and reassurance that I am not the only person who has ever made the mistakes I have made. I love this site!