All Forum Posts by: Cassandra Truax

Thanks Philip and William.  Philip I had to giggle about the snow --- I'm in San Antonio.  I lived in Chicago, so I know what you're saying.

We do have Chase here.  I'll check with them re loans.  I will also try bigger pockets calc.  The expenses posted were what I found in the mls listing.

Another question - 20 percent down - is that pretty standard as to avoid mortgage insurance?

Hi,

I'm brand new to investing and am learning to work through potential properties.  

I've got a real life property and am taking baby steps...

List price 38,000

2 vacant units that rent for $500 each

gross annual income: 11050

annual operating expenses: 2007.58

Net operating income: 9000

Applying the 2% rule - 1000/38000 = .026

Applying the 50% rule - 1000 x 50% = 500  500 x 12= 6000

Now my next question is regarding loan payments.  My question is what are the options to finance this? Getting a conventional loan for such a loan amount is near impossible?

I can't pay cash.  I could partner with someone who could (this is all talking out loud)

Other options?

Besides asking for documentation of actual income and expenses, what other questions are appropriate?

Thanks in advance from a super newbie.

Also, in a future webinar I'd love to hear the story of how Bigger Pockets started.  It's an AMAZING site and superbly executed.  I'd like to hear how it all came together.  Maybe you cover that in podcast 1?

Got a lot out of the webinar tonight, looking forward to more.  Loved seeing the rental property calc in action.

@Seth Williams, as a Realtor I feel I need to jump and let you know that as a buyer, having an agent costs you nothing!  That's right, the seller pays the commission for both agents (except under very weird situations or if it's a for sale by owner).  So if you are new to this, you might want to use an agent for free advice, opinions, and representation.

@Eric Moore , thanks for the welcome and you're right, this website has TONS of valuable info.

Thanks, Paul.  I'll get started with those resources right away!

Hi all.  I'm a newbie or really wannabe investor and a real estate agent here in San Antonio.  

I know most investors don't use MLS or real estate agents, but I'm wondering if I can help investors or what role I could play.

I'm brand spankin' new to this game so time will tell.

Are there any good RE investor meetups here in SA?