All Forum Posts by: Imran Suhail Ashraf

@Dillon Bruno what is the value of the house if you sell it? How much equity do you have in it? If you can get rents to cover the mortgage that would build you equity over time for free.

@Taylor L. I'm new here and still learning but if you can get the $100k why not look for a commercial property that needs some work. You can use 50k as downpayment for it and finance the rest where the mortgage doesnt cost you more than 30% of the gross rental income after spending 20k on renovations and keep $30k for unforeseen expenses. Hard to find but it would be worth it if it yields $1500 to $2k cashflow after getting a cash-out refinance and largely paying back the 100k

Another option could be to house hack and buy a 4plex on an FHA loan that needs only 3% down in which case you can buy a nicer property, live rent free and a year later you can rehab+refinance

Hi everyone!

After listening to many Bigger Pockets Podcasts and attending a webinar I finally decided to join this community. Looking to learn as much as I can, while making some new friends and meet some like minded people investing in real estate in Virginia and Colorado. 

I don't have money to invest right now but I am thinking about starting from wholesaling or partnering with someone in the area who I can help with some of their work and hope to learn from their experience. Do you guys think this is a good approach? I believe in win-win scenarios so if there is anything I can do for you in Northern Virginia, don't hesitate to ask.

By profession I am a software architect on mobile and cloud applications. We are immigrants from Pakistan who came to the US almost a decade ago and we have two little boys. 

Lets connect, learn from and help each other in our journeys towards financial independence!