All Forum Posts by: Tabitha Rivera

Karyn  T you are right that I should just focus on my student loans, they are not more than 50000 but are significant enough to worry about. The 10000 will make a huge debt in them and greatly help my credit score. I should be focusing on that. Right now I'm paying off the $200 minimum with an additional  $400 towards the $18000 balance. At the same time my emergency fund is climbing by $500 a month. I could contribute more but I'm also focusing on my own house payments and doubling those to get ahead of the game. I think because the deal looked so promising I wanted to just jump right in but I should hold out a little longer until I get all my ducks in a row and then go from there. With this oil boom coming to a close where I live the opportunities to buy will just keep coming.

Thank you all for your input.

Thank you, everyone for your input. I thought I had done my math right but I'm sure some steps jumped away from me before I could take them into account. I do tend to get ahead of myself and put the cart before the horse. I'll probably pass on the house until I understand more, and have a decent cash reserve for casualties. I appreciate all the advice. Constructive or otherwise

Thank you, everyone for your input. I thought I had done my math right but I'm sure some steps jumped away from me before I could take them into account. I do tend to get ahead of myself and put the cart before the horse. I'll probably pass on the house until I understand more, and have a decent cash reserve for casualties. I appreciate all the advice. Constructive or otherwise. 

Thank you for the constructive criticism.  I knew I'd end up embarrassing myself with my lack of knowledge. Time to research more.

I'll most definitely get an inspection, to know more, but according to the given info it sold in 2013 for $84000. 

That being said I live in a place where oil is gold and the boom comes and goes every decade or so. We are on the tale end of one now. So prices are dropping fast on real estate. 

Okay specifics is $40000 house I have 25% for the down payment. It is a move in ready 4 bed 2 bath home in an okay neighborhood, I could very easily get 600+ for rent. I am a full time nurse and have a decent income from that and minimal bills of my own minus the student loans and the basics. Even with vacancy I could afford the house. I just don't know if I should go all in just yet or study harder, research more, pay off loans, and then tap into the market, but I also don't want to pass up such a good deal.

Hi, guys and gals, alike. I am new to this industry with learning still my number one agenda before taken most actions. I have seriously been interested in this for a while now and still trying to gain as much knowledge as I can before diving into something unaware. However, because there is always an exception, I have recently stumbled upon a really, really, and I use two reallys because its that good, deal. For the moderately experienced it would be a no brainer, and even for the beginner it would be a steal of a deal. I know it is a great opportunity but I still have reservations and would like help weighing the pros and cons so to speak.

I found a house that I have a 25% down payment for, I know the market it is in and I know that it will have a very low vacancy rate, and a very good cap rate, even if economy changed I would have the capital to back up all PITI. With that being said I have a student loan that could use that money and my credit score is not good at all. I feel like this house could help my credit in that I know that the numbers could work in my favor.

I just don't know if as a beginner I'm getting in over my head or not being cautious enough. The down payment would take out my safety net but I am working and could build it back up in no time even taking into account a lack of resident.

What to do what to do. Maybe I am trying to dive the deep end before knowing how to tread water. Maybe I need to do more homework and pay some more dues before I bite off more than I can chew. Mixing analogies! Help BiggerPockets??