All Forum Posts by: Brendan J.

My wife (a Fed) who will probably be furloughed @ 4PM agrees with the logic. From everything I've read, Bill is correct with the above answer.

Thanks for beating the wisdom into us. You're a great teacher of the trade. Congrats!

Nick,

You probably won't get a ton of info about 0% down on this forum because its next to impossible to do once you move past your first home purchase (not even possible nowadays). Most of the individuals posting here are well past their primary purchase and are working in the 25% down investment property stage. If it's a good house, keep it for yourself, otherwise you'll have to decide whether it would be better to pull out and invest in another property after securing the funds for a proper down payment. All the best to you Nick.

Its great to see this site getting such practical use. Congrats on the sticky too!

Any deal in which you're losing money is a BAD deal in my opinion. Others might disagree and say, "what about tax write-offs, depreciation, etc?" But the honest truth is that all of these factors should just be icing on the cake of a deal that is truely cashflowing. Not excuses as to why it could possibly work.

Sorry for the vent. Your question is a valid one and deserves an answer.

Cut your budget to the bare minimums and save like crazy for the next 6 months. Work oddjobs, sell your neighbors patio furniture on ebay, whatever you have to do to put some money in your pocket. In the meantime study this business till your eyes are so scratchy you can't open them anymore, and then turn on a podcast and listen with your eyes closed.

Later this year, sell your home and put your money down on a multifamily property (2-4 units). You live on one side, and can start renting out the others.

Keep us in the loop Danny. I know I'll be following your progress.

Justin,

It honestly looks pretty good. Your expenses vs total rent look accurate.

The only thing that worries me is the $3,500 monthly rent figure.

Do you actually have occupied tenants at this price or are you coming up with this number yourself? If $3,500 is doable, I like it. If the rent drops more than that, you'll have to take a harder look.

Sounds like it's going well. Keep us updated Danny!

You'll "chime in" on a thread that is 5 YEARS OLD? Kenneth, please try to look at the dates of these posts before you drag them up again.

Kenneth, you realize this thread was 21 months old right? Or perhaps that Doug hasn't even visited the site in the last 15 months? Lets stop digging all this stuff up.