All Forum Posts by: Hunter Reed

What is the median house income for the Blue Summit/Independence and Ray-town area?

Analyze, use the Bigger Pocket's tools to help you in the analyzation process, talk with lenders, and find a good agent. You've got this! Good luck on your investment journey!

Thomas, if you have 10k-20k in cash reserves then $150 cashflow is fine. If you have little to no cash reserves then the investment becomes significantly more risky. As you hold the property the property will appreciate overtime. If you can add value through a rehab this will increase cash flow. Over the years rents have typically increased by 1%-5% each year. Again, if you have solid reserves then you should defiantly pursue this investment.

Jack, reach out to as many land developers as you can. Look them up on google. I would have some sort ofd agreement in place when you do sell. How much does an acre go for in Apopka, Florida?

Brent, did you know if you took a penny and doubled its value every day for 30 days you would have a little over 5 million. Buying multifamily is the same concept. Goof luck on your journey!

Todd, why do a cash out refi 220k when NY has some of the highest property taxes in the US. It seems to me that your cashflow is not adding up. I would wait to refi once rates come down. You would then be paying 3% instead of 7% or 6.5% interest on your mortgage. This would allow you to cashflow. 

Ask the applicant to provide you with the payment structure of her student debt. You could easily estimate if the payment is to much to bear your approval. 

"Mortgage industry specialists say homebuyers with credit scores of 680 or higher will pay, for example, about $40 per month more on a home loan of $400,000. Homebuyers who make down payments of 15% to 20% will get socked with the largest fees." - Washington Post

The fees are charged to the individual responsible for paying the loan off not to random peoples loans. Hope this helps.

Mortgage industry specialists say homebuyers with credit scores of 680 or higher will pay, for example, about $40 per month more on a home loan of $400,000. Homebuyers who make down payments of 15% to 20% will get socked with the largest fees.

Lorraine, call up as many realtors as you can to see if there are any properties available. Make sure you are specific about Vieques and other criteria. Ask them how to find off market deals. Look for ways to property search an address on google. Or you can simply start by googling "how to find off market deals in Puerto, Rico". Good Luck!

Interesting idea. I have wondered this myself. You would need to build at least 10 units in order to cash flow based off the financing. I do not see how 3 units at $50 could make that much cashflow. Now if you are a skilled builder then by all means building 3 units would make financial sense because at that point you are only paying for materials. At the end of the day see what other storage units rates are and go from there.