All Forum Posts by: Dan L.

@Chris Mason thanks Chris, that was exactly what I was wondering and makes perfect sense!

I figured that even with monthly payments and interest being suspended, the lenders were finding some way to account for these debts... Just wasn't sure how.

Thanks again!

Hello everyone!

I've had a quick thought this morning about how debt-to-income ratio is currently being calculated.

I am aware of the normal calculation but with all the student loan and mortgage forbearance we are currently experiencing, is that being taken into account during loan approvals?

Example: First time homebuyers have student debt with a $500/month payment. They also have 2 car loans for a total of $500/month. Their monthly income (take-home) is $4,000/month.

The standard formula would give you 25% DTI but with the forbearance putting student loans payments on hold till September 30th, is their DTI now 12.5%?

Thanks everyone!

Hi everyone!

I've been trying to get started as a real estate investor so I can create financial freedom for my both my wife and me.

I work full time in sales that mostly takes place in Houston, Texas which I've heard it's a great place to be for real estate.

I'm looking for any tips and advice on which route will be easiest to get started with about $15k of money to invest while still working full time (at a new job I'm still learning).

Any tips on getting over the "analysis paralysis" would be great as well since I've struggled with that part as well (though I feel like I'm finally getting over it!)

Thanks in advance and I hope everyone has a great day!

Good morning BP family!

I'm brand new to real estate investing in the Houston, Texas region and have started going through BRRRR by David Greene.

The rehab portion is the first hurdle in this process for me and finding a good general contractor send like it will be key here.

Are there any local investors who could point me in the right direction as far as a recommendation for a good GC or a good method for searching and qualifying GC's?

Any other tips for a new investor getting started will be more than welcomed as well!

Thanks!

@Star Dawson sure, it was the local REIA event - www.reiahouston.com.

@Cara Kennedy thanks Cara! Somewhere down the road I will be looking to do out if state investing as well - one step at a time though right!

@Dmitriy Fomichenko thank you for sharing the resources! I have already used the keywords notification!

@Jake Stuttgen thanks Jake, I'kl be sure to take you up on that!

@Jake Stuttgen my short term goals will be to start with wholesaling to build capital to use for investing.

I was speaking with someone at a local REIA event last night and they mentioned the BRRRR (not sure how many R's haha) strategy which sounded like a logical next step to learn and implement.

I'm open to any advice of course and any direction people can provide!

Hello everyone!

I'm new to real estate investing and I live in the Houston, Texas area.

I'm very excited to learn about this business and would love any advice and networking opportunities that the people here are willing to offer!

Thanks,

Dan