All Forum Posts by: David Bowles

@Vinay H. We must have the same friends!!! I get the same thing when I talk to people about RE investing! They also said I was crazy when I read The Total Money Makeover. I’ve now paid off nearly 50k in debt over the last year on a combine salary of about 110k/yr. Look out real estate......here we come!!!!

@Frank Patalano Right now I’m getting my finances in order. Aside from my mortgage, I’m almost debt free at this point. I have been doing a lot of reading and research to educate myself about RE investing. We are still looking at markets in Michigan that we want to invest in. My last hurdle before truly taking the plunge is getting my wife 100% on board.

While I would have no problems being creative for startup capital, she would prefer to save up for a year or two and use our own cash (after building our emergency fund). We could accomplish this by the end of 2021 having about 30k for a down payment.

All that being said, my goal is to purchase a 3BR SFR in Michigan to buy and hold by the end of 2020 that will cashflow at least $100 after accounting for PITI,other expenses, and management fees.