All Forum Posts by: Dave Carpenter

Jeremy C. I used seller money because I couldn't buy the deal with the amount I had based on the 25% down required. Also, the seller money was cheaper than the bank rate so that helped too. I would recommend seller financing to anyone that can make it work, provided the terms are equal to or better than the banks, and the seller is willing to take second or third position on the property. If your are going to use seller money, make sure to talk to the bank and let them know what you are thinking. There can be restrictions like with an SBA loan when buying property and a business. You can also jump on here and ask the community. It may save you an unfortunate surprise further into the process.

Greg, have you asked that seller if he has any other properties he might want to sell?

Robin, welcome to the site! You have a solid goal in mind. Do lots of podcast listening and reading on the forums and then set a goal and share it publicly. Lots of folks on here that would love to help and encourage you!

Austin, In terms of what kind of deals to look for, I would consider trying to find a property where the seller might be willing to carry back some of the loan. I just did something similar to you with equity I used for a down payment and was able to get the seller to provide the difference of the down payment. It allowed my equity to get me into a bigger property that I could have otherwise. I'd say you are thinking about this next step the right way!

Jonathan, be careful what you promise, especially if you aren't confident you can deliver. It may be a good practice to say, "let me think about that and get back to you". In my experience in both real estate and life in general, people are usually ok with that as long as you actually do get back to them. One thing to keep in mind is there are lots of laws, some not so obvious, and which can change. Keep in mind that what a customer/tenant wants may or may not be legal, or in your best interests. Pair all of this caution with being kind and genuine and I think you will do just fine. There are lots of landlords who have made dumber mistakes than you. Real lots on these forums and you likely will save yourself from most of the big ones. Being a landlord can be fun!

Andrew, my student loans are pretty minimal at this point, but I would suggest considering the best use of your money. If you are paying 7% per year on your student loans, but could get better returns on a rental investment, I'd go that way. Using good credit and maybe an fha loan to buy a duplex which you could also get roommates for, you may be able to get better returns than 7% per year. I don't know your specific area of Indiana, but I'd guess you could find an area nearby that would provide a decent duplex in a. Area you would be willing to live. If you rented out half the duplex and lived in the other half with a roommate or two, you may very well be able to cash flow. Pair that with beginning at an early age to pay down principal ok be property and you likely could make a pretty strong case for saving to buy a rental. That's what I'd try to do. Good luck! which would yield returns higher than 7%

I signed up using a discount. Should be worth the cost to hear some of those speakers. I will make sure not to bring my checkbook!

Anyone from the Milwaukee area thinking about going? Seems cheaper to buy a pair of tickets than individual ones.

Just came across info for the real estate wealth expo that's coming to Chicago on April 2. Wondering if anyone has any insight on this expo. Any insight on if it's a big selling thing, or legitimate? Based on Suzy Ormann and Tony Robbins it seems like it may be somewhat legitimate. For me, seeing Tony Robbins alone may be worth it. Not sure I'm looking to get any real actionable info, but viewing this as a handful of interesting speakers. Thoughts?

First thing that came to mind is to start taking notes, or videos. If this gets weird/messy, you may want to have video clips showing that the locks are changed and that security cameras are set up.