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how would they know it would be rented out, I mean I will be looking for a good house to live in for a while, but lets say something else do come up with great oppurtunity and I have 5 years left on the contract, I wouldnt be able to rent it out since it wouldnt b under another person name, it would still be under mine

my realestate agent has provide me with good information about a downpayment program, it a housing coalition program where I have to take a class and then live in the house for 10 years, NOW my question is will anything happen if I decide to rent the property out? because it states here that if I sell it there will be a interest and I would have to pay the down payment back to the county. if I live at my property of chosing for 10 years - there is no issue in repayment.

has anyone done this or know more knowledge?

it will be hard since most banks these days base off your debt to earnings ratio - good credit and good income

I am new to real estate and got my first home - I am interested to further learning the real estate aspects, but real estate has been known for the following: flipping, rental

I do not want to do either, I am not a handy man and I do not want risk of not being able to pay for a mortgage because of the fact that there are no tenants

What are the other aspects of real estate that does not include the above or what are the alternatives do the above? instead of me being a property manager maybe another can manager the area?? not sure

I went to a seminar and heard there is a paper side to realestate? not sure what that is as of yet...but again what are the other aspects that are rarely mentioned about real estate that does not include the above

thanks - I am in the process of closing on a house and soon to get started on showing the house to the public for renting, soon I hope to earn a good income on the house more updates to come soon

thanks all - now since its a numbers game I want to create an excel sheet I would like to know

how to calculate mortgage monthly payments, what is the formula - I thin I have it, but when I do it on a webbase calculator - it is off by a couple numbers, I want to know the actual formula to determine my monthly

once i have that I will input the expenses so I can know if this house is a great investment or not

thanks

the property will be a rental unit
market value around the area for rent is in the high 1000
repairs - very little - low maintenance
my loan will be an 80/20 loan at 6.9%/9.9%
managing will be me since this will be my first poperty

that I appreciate the question this is my first time investing in a property

hi all

I think I have found a good prperty investment and would like to know your opinion.

listed at 310000
taxes for 06: 3300
my loan: 80/20 6.9%/9.9% (eliminates PMI)

what other numbers are necessary are a determining factor for purchasing?

this is a 2 family house with big rooms, the only downside that the house is 77 years old, and the rooms are basically next to each other (to get to the 2nd bedroom you need to walkinto the first bedroom) but it was kept up well, cosmetically. 2 heating systems are installed, new roof, comps are great, highly traffic area

owner did a lot of renovating, by creating rooms and expanding and cleaning the attic

backyard, but never used or maitanined - attic was turned into a 2 bedroom - which I might be able to include with the upstairs unit if prefreabble.

what other things do you need to determine if this is a great deal or not?

thanks I do use my moms advice to a certain extent and her access to the list - but when it comes to purchasing I do not want her "motherly" advice get in the way of things

MC = Mortgage Company?

Since I just started with my investment property or soon, my lease will actual be renewed next month, which I assume is too late due to the fact that it may take 2 months for closing.

When I got in the investment business, I decided to late and I knew of my situation, so I wanted to put 2 tenants in a multi family and I rent until my lease if fully up, I mean with the property I am looking at will ofcourse provide me some type of cashflow - the house pays for itself and I get the cashflow from the rental income.

I agree - I just do it and not think of all the risk and why it will not work - even though I have not yet to purchase a property I ahve been looking at property currently I have viewed 21+ properties with 3 good deals - hopefully soon I will close on one - just need more advice and ideas and what to look for - even though I know there will be risk I know that I walk into the deal knowing there is going to be risk