All Forum Posts by: Austen Mueller

Income(rents) - Expense(mortgage, maintenance, vacancy, ect) = CASH FLOW 

Your goal is cashflow. After all expenses are paid you want to still walk away with a profit. 30year mortgage is good because it will give you the lowest monthly payment. Equating to less expenses, maximizing monthly cash flow. If your not going to see cashflow look for another deal, unless your houshacking and occupying the property. Make sure your running your numbers correctly and accounting for everything correctly.  

When just starting out I would not worry about it. With an LLC you will have to get a commercial loan with more unfavorable terms for a new investor.

I'm from central PA that would be a haul for you. However look into areas where landlord laws are in your favor. Look for stable or upcoming markets. Some markets are more volatile than others. Some are more competitive with lack of inventory. Out here in PA You can still by SFH for 75k and multifamily run roughly 75-120k a unit.

Wish you all the best!

Don't forget to look at deals that have been sitting on the market for a long time. They get overlooked and could be an alright deal if you can negotiate with the seller, as the leverage swings to you as the home sits for a long period of time. 

I work mostly with buy and holds. But there is plenty of experienced lenders on this site who can answer that better than I can.
best of luck to you sir. Keep following the feeling! 

Have it inspected, but you know how the saying goes. "If it aint broke, dont fix it"

Agree with Caleb. Get those finances in order! and truck driving is great for listening to podcasts(I imagine). Do you already own a home? are you single? can you rent it out while your on the road? get creative. When you feel your ready, get a loan and find a good investor agent! and you will be well on your way   

there is investor meet ups on bigger pockets if you scroll through the forums. You can join groups on facebook. Believe there is an app just for meetups that you can utilize. Do a google search to see if any are around your area, or even create your own! just a couple ideas hope this helps! 

Let me know when you get financing. There are markets near me you may be able to find what your looking for. But be warned if this is your first investment buying something that cheap will need work sooner than later and may be inheriting headaches. Hope you have a reserve 

What financing are you using