All Forum Posts by: Benny Moya

I don't mean $30,000 it was around $50,000 of saving that I need from my own money to start. But they maybe other ways to get starting without putting all that money from my pocket

So I know that many people say giving a 20% of down payment will help me not pay a mortgage insurance. Want to know around how much is that insures cost per month. Because here Virginia Alexandria, 30 to 40 minutes driving from the White House. where I live you only find houses of $200,000+ and getting a 20% will mean $40,000 + closing and other things we talking about $30,000 means few years of saving for me. My goal is to buy and fix them a bit maybe flip them or rent them. How can I really start if I don't have that much money for down payment. Any help will help thank you.

Hello, I'm 21 years old want to start investing in real state in about 2 years, but want to start learning about what I really need to know so I don't make many mistake in the process. I have being told that having a 20% down payment is a great idea. So if I want to buy a house of around $100,000 and want to put a 20% down payment that will be a loan of $80,000 I need from a bank or a private loaner. + $20,000 to $30,000 on fixing that's I will do. Most of the items will be fix by me and friends and family. I work as a electrical work everything that i need for that's. Have friends and family that can do carpet, painting, etc. and I know think hey will will no text charge me a lot of the work. But because I will put the house to rent I will ask around $1,600 per month giving me a cash flox of $250 per month. I also know that I'm need some money for closing and few month of payment in case I can't  rent the house for few month. So I Will save about 6 month of mortgage. So my question is do I'm in  a good path or I'm wrong. If you would be in my shoes what will you change or do diferent?