All Forum Posts by: Bill Orf

I do own my house and I have a rental right now. I used my own cash to cover down payments on both. I have just never used opm before and wasn't sure how others analyze those types of deals.

I appreciate the feedback and will check out that post!

Thanks

Bill

Here's my situation:

135,000 property - 3 bed 2 bath

15% (20,250) down that will be borrowed from investor at 10% over 10 years.  The monthly payments to the investor will be $268

I'll borrow the rest from the bank (114,750) at 3.75% over 30 years.  Monthly Payments are $531.

Estimate taxes to be $1000/year

Estimate insurance to be $800/year

I could get at least $1100/month in rent from the property.

I expect to cash flow $144/month on the house but that is before any possible maintenance/vacany/etc.

My question is - Is this a great deal because I'm not using any of my own money? Or am I missing something that will make me regret this deal?

Thanks!

Bill

Hello All.  

My name is Bill and I'm new to the real estate investing world.  Real Estate has always interested me and I'm finally ready to jump in and start investing.

I'm primarily interested in buy and hold investing.  My issue has been finding the right deal. 

I have been using realtor.com and zillow to look for properties.  I know these are ok places to start, but I know there must be better ways to find GREAT deals in my area.

In what ways do you find a great buy and hold deal? 

Thanks!

Bill