All Forum Posts by: Brady Moxham

@Daniel Vandenbos Thanks for the reply! This actually is a single family home and I do not want to move into it. Also I would only need the loan long enough to save up the down payment amount. Im only about 15k short. As I will be starting my first salaried job in December I would be able to easily save enough to cover that. After a year I would just refinance with a bank and pay off the private money. Would this make sense? The only thing I was thinking was doing a 20K line of credit to pay the down payment. 

First time investor. I have found a nice 100K house (3 bed 1 bath) in good shape that would rent for 1200 plus utilities, in my area. Currently, I would not be able to put the 25% down that the bank would require. Would it make sense to carry the loan with a private money lender? Would they typically take a 15% or lower down payment? I also already have a tenant that is looking to rent a house with this exact stats. for 1300 a month plus utilities. Any suggestions would be great. 

@Frank Patalano I hope to put down about 20%. I am actually thinking of partnering with my brother who has full time job already. Between the two of us we can afford about 35-40K downpayment. Just not sure what the best course of action is with our available funds. Should we maybe look at higher cash flowing duplex? Or two smaller SFH that we could sell in a few years to turn into more properties.

Thanks @Jacob Perez for the reply! I had not thought of that on the financing side. Might not the best option for my first property. I do like the idea of big cashflow. In your opinion do you think first properties should be more simple SFH? Or would it not be much more difficult to get into a duplex to start? Thanks!

Just starting out in real estate investing (21 years old, just out of college, no student debt, starting first full time teaching job in Canada in January). My brother and I are looking to partner in our first property. I found a local building that has 4 units with a combination of 6 bed and 3 baths, do not know a lot about the property other than its a conditional use rooming house. After factoring all expenses it cash flows around $1000. Not sure if this is something I want to get into for my first property, I have heard stories about rooming houses having tough tenants/evictions. Its within budget $145K with a 20% downpayment, and good cashflow. Anyone have good/bad experiences with rooming houses? 

Looking to purchase my first rental property! Feel like I am in the "Paralysis by Analysis" stage. Can not decided between SFH or Duplex. I like the cash flow of duplex but I am currently finishing school (21 years old) and only have so much money for a downpayment! Starting my first full time teaching job in January so will have more income to invest later on!