All Forum Posts by: Bernard Evans Jr.

Hello, I've been researching this in depth and I've come across many different banks and credit unions who want the person needing the loan to provide the following : 20% down payment (which is understood due to mortgage insurance not covering rental properties.) 6 months of savings (Current home mortgage, and rental property ) Now based off my calculations that would be between 15k-30k cash in your bank account. My question is has anyone closed with a bank with less money brought to the table "besides" the 20% down. Also, has anyone gained this substantial amount of money without the use of life insurance policies, trust funds, or any form of money given to them? I know that some have started from the ground up with $0 to their name and this better fits my situation. It's easy to gain a rental property when money is given to you. If so what do you suggest ok saving for this amount of money? Many Thanks for your input, It's greatly appreciated, Evans.

Hello sir, I just joined today as well. I'm located in the Greensboro area. I've been doing the same researching and catching up on older podcasts. I'm planning on taking things to the next step next summer. Maybe we can collaborate some ideas that will help us both in the long run . Good luck! Evans.

Hello all, I have established my self in the law enforcement field and now I'm ready to partake in my next journey. A lot of times you need to have more than one stable income and in this economy it would hurt. My goal is to network and take on rental properties here within the state of NC and increase my overall residual income. I've gotten mixed reviews on the real estate business but I've done enough research to take the next step. If you want to converse or maybe even partner up on some projects I wouldn't mind it at all. We are all adults and we all want to provide a decent living for our families and hopefully we can accomplish that. I want to build a steady portfolio of rental properties and eventually provide my own management group to help keep the money "in-house" so to speak. If this interests you, please don't hesitate to send me a message. Greetings to you all, And happy selling, Evans.