All Forum Posts by: David Malott

I was told by my loan broker that the rental income couldn't be used until it shows up on at least one tax return. Is that Fed rules or is it state by state?

That's what I was thinking. Thanks for the input.

I have recently been pre-qualified for a loan of $125,000 to buy investment property. I'm planning on selling my principle residence, move and buy a new principle residence in my new location. If I buy an investment property with a mortgage, how will this affect my ability to get a mortgage on my new principle residence? Would it be safer and less headache to buy my new principle residence before buying the investment property?

@Jay Hinrichs I'm sorry for my ignorance, but could you explain your acronyms?

Thanks for the link. The address I posted was simply one I pulled off of auction.com to use as a locator. Your post gives me a lot to consider.

That looks like pretty good numbers. Thanks for the info.

 I was thinking of investing through them but so far have only gotten as far as getting their info. How's the cash flow with your property? Are you able to get $150 to $200. I don't mean to be nosy but that's kind of what I'm looking for as far as monthly cash flow is concerned and was wondering if that's possible through a turnkey. 

Hello from another newbie. This is definitely the place to learn about real estate investing. I've already taken advantage of a bunch of the podcasts and they are full of useful info. Also there are free webinars that you should sign up for when they are available. There is one coming up on Nov. 19th that should be very informative. Good luck and welcome to the neighborhood.

The area I was looking is in the general area of 3723 marvin st. Hope that helps.

I meant the 51. Yes that is the area I was referring to.