All Forum Posts by: David Yandel

Hello BP community! 

I have a question for the group. I am looking for my first investment property and looking in a few areas as OOS investment. I’ve also looked in areas where I visit (I travel a lot) and every time I talk to a local agent the first question is always “do you have pre approvals?” I have no fears in getting a bank approval, and it down payment is not an issue either. My question is, when buying a home, do most here use big banks for loans? Or is there a better option to finance? 

Thanks

Hey all! 

So, as mentioned in other threads, my wife and I are nomadic. Our current jobs allow us to travel the US and go wherever we please. We’ve been all over and in each area we start to figure out the areas and learn where job growth is and where people are flocking to. 

As we are looking for properties, I know we need to develop the “team” to help manage the property(s) as we continue our travels and our fulltime job obligations. 

We have some connections back home (Wisconsin) so definitely looking into this market as it’s an up and coming area and we have the people to tap into. 

But checking other markets, TN, NC etc… we don’t have the connections. 

The question is, how do people find these connections if it’s an area outside of their original home base? Is there a place to go look for this? Is it coming here to ask? Thanks! 

Thanks everyone! 

Hey all, thanks for all the knowledge and insight on this forum! 

My question is, we are just starting out and looking for ALL options to get started with our first rental property. 

My wife keeps telling me about a $0 down payment loan option that she’s been hearing about where if you can show that the rent will be greater than the mortgage, this type of loan will require $0 down or lower than the 20/25% requirement. 

I have been doing some digging, but I cannot find anything on this type of loan. Does anyone know where I can find information on this? Or, is this not a thing that is just click bate? 

Thanks! 

I am currently renting a rv lot with full hookups (water, sewer and electrical) for $750 per month at an established rv and mobile home park. People in this park range from using the land for manufactured homes and or park model rvs and fully movable units. I see that the area does sell these properties frequently and over the years have been increasing in value. 3 years ago, these properties (fully deeded) were going for around $25k, and now are selling for around $60-90k. There is a property here that the owner is trying to unload quickly, and I have the opportunity to purchase for cash well below current market value. My goal is to own some land so we have somewhere to come back to (my wife and I currently are nomadic) and also potentially short term rentals while away (rent to other RVers who need a spot).

now my question: Would it be best to pay this for cash outright as 1 of our first investments? Or would it be best to get a mortgage on the property even though it’s not needed? The goal is to start accumulating property and land and diversifying our portfolio. 

happy to join and learn! My wife and I had 2 long term rental properties in the past and sold them due to other business endeavors. After 7 years of business ownership, we now are both working for bigger corporations and now ready to get back to diversifying our portfolio and want to start accumulating real estate properties.