All Forum Posts by: Account Closed

No. @Kathy C. 

@Kathy C. I do not qualify for mortgages, I'm full-time college student and my income is as self-employed.

Do you know of any alternatives? 

The money was given via a trust for us to purchase a property and invest it @Kathy C.

It's $517 per room, two rooms we are getting $1034 right now 

Sell?

Then what?

So, you and your mom originally had $90k cash? A lot of people here might have suggested that you could have already split that up into a deposit on three of four properties, rather than just looking for one that would give you 1%/m cash return.

@Brent Coombs No, we have received an inheritance in a form of a property. So the property is now paid for, we could sell it whenever we want to.

I am among those who would suggest you DON'T pay $90k for properties that appraise at just $90k. Is that the case with your condo? Because if so, your equity is no more than you already had before buying.

@Brent Coombs The market price of the property is 106K, we are able to get it for 83k because it needed it a lot of work, we spent 7k in fixing it [we are not expert, first-time deal].

Every time you pay close to retail for a property, you are limiting your opportunity to get ahead of the game. For now, I will leave you with those thoughts. Cheers...

The reason of my post is because I couldn't find any simple ways of getting mortgages [I'm full-time college student] 3 properties and run all of them. So instead, http://www.b2rfinance.com/products/portfolio-pro-l... offers the capital to buy more properties using the equity of the property as collateral. 

So the reason of my post is looking for insights on what should I be paying attention if we  take this capital expand the portfolio. 

Thank you! 

Happy New Year!!! 

I wanted to share my project and get some feedback on my first deal

I'm 25 years and about 4 months ago my Mom and I bought our first real estate apartment at $90,000, small condo two bedrooms near a college area that generates $517 per room (including utilities). 

I have been considering using our equity in the property to get a loan and expand our portfolio 

I have been looking at this 

http://www.b2rfinance.com/products/portfolio-pro-l...

Up to $300,000 to buy 2-3 more units 

-How much should I have in savings? 

-What kind of properties could be best? 

-What are some of the most common not obvious expenses in buying three properties (time, repairs,etc)? 

-Is there any Forecasting tool that you recommend to see what kind of return should we expect? 

Thank you!