All Forum Posts by: Carlos Castillo

Is 20% too little for it? I thought that was the standard not to pay pmi. 
My dad is a contractor. So I definitely would have him inspect the property first. I am trying to get info on the basic numbers to make sure I didnt miss anything. 

Yes! The mortgage is actually 266 with taxes and insurance. how can I account for vacancy nad maintenance? 

A 40k 3bd 2bth house in ohio has a mortgage of roughly 300 monthly with  20% down. Rent in the zip code of 43204 for this is on the low side 700 monthly.  The fee for property management, since Im out of state, is 100 month roughly. 
So...
$700

-300

-100

= $300 monthly?
Am I missing some big number here? Because this looks like great cash coming in. TOO good. It cant be right.

I am trying to break into real estate investing I have 10k cash that could go up to 15k if need be. Its not much but Im wondering if I can do anything with it. I am interested in buying a house but I am pretty real its california. That doesnt buy you a shack. 

Thanks for the input. Comparing maps is a great idea!

 What did the numbers look like if you don't mind my asking? What area?

North Park, Cajon and, University. 

I am looking to make my first investment. I am thinking maybe a rental and I was looking at San Bernardino but this thread makes me a little itchy about it. Crime really does appear to be bad in the area. I am thinking rental rather than flipping. Budget of about 220k. My thinking was that the area around the CSU should be easy to rent. Thinking I can get abou 1.5k for a 4 room house near the University.
https://www.biggerpockets.com/forums/311/topics/285149-san-bernardino-ca

Thanks but I live with my parents right now free of rent. I agree that it sounds like a great idea but since I dont pay rent it does not work great for me.

@Mandolo D. Sorry. I was not aware that this counted since he asked for someone himself.