All Forum Posts by: Cody Purtle

Hello I plan on moving to Houston within the next couple of months. I've been there a few times but I'm not to familiar with the areas. I was wondering what are some good areas to live at in Houston? I'm going to be looking to purchase a 2-4 unit multi family property. My budget will be something under 250k. Also I would like to meet up with any local REI groups out there. Thanks!

Hey Ed Welcome to BP

It is indeed legal they have a few guys who wholesale in my area! 

Anyone have experience or advice?

I recently came across a 6 yr old MH in a MH park that is in a desirable area. I found a lender that would let me finance for 10 yrs with 20% down and 8% interest. I spoke with the park manager and renting properties is allowed.  After running some numbers including the mortgage, insurance, property taxes and the actual lot rent I would still make positive cash flow. Just wondering if this would be a wise decision to move forward with. Has anyone had experience investing in a MH park???   

Thanks

Awesome welcome to BP! Where do you invest at in Louisiana? 

Thank you guys for the responses. I spoke with a few banks and they would only do a 20% down payment on investment property which I'm having trouble getting the cash for due to my liabilities. I've heard of hard money loans but I'm not to sure how that works. I'm considering getting a roommate to help save money or even selling my home and moving with my parents again which wouldn't be to fun but it would help me save more for investing. I'm ready to get this rolling but I just want to take the right steps. Thanks guys. Also from y'all experience would fix and flip be the way to go first or buy and rent out? I'm interested in both. It's tough starting this out when I know no one that does this.

A little about myself, I'm new to this website and new to learning about investing in real estate. I am 23 years old and I'm ready to start investing into real estate. I started reading books and learning about 5 months ago, the reason being was because I work in the oil and gas industry and as some of you may know it's not doing so well and I went from making good money to now living basically pay check to pay check saving a few hundred dollars every month. I am considering either getting a roommate or selling my home to help by saving more money. I am confused on how I should start out into this business. Currently I am having trouble getting the money for a down payment on an investment property. I am also unsure on where to start out at as in buying property and renting out or fix and flips.