All Forum Posts by: James Calvert

I dont think I would have any cash flow from renting after paying me mortgage. Maybe $100 but thats not including saving any money towards unexpected expenses...

Khalid, 

This is extremely helpful! Thank you very much. So far Ive been watching homes on Trulia or Zillow and they have been listed for the same price for months. 

Not only am I nervous about finally looking to buy a 2nd home and rent my current home, but I just got a preapproval for an FHA for $250,000 at $2,000/month... Im having a hard time finding a way to purchase a home in the area even close to the 1% rule! which would make it much harder to rent that property out when I move out to purchase a 3rd.

Is it better for somebody like me just save for a large down payment to bring the mortgage down rather than try to use an FHA?

I'm also fairly skilled at remodeling and would love to rehab my next home but It seems realtors or lenders aren't convinced I can use a conventional loan for those types of properties. All in all I'm a bit lost in all of this and hoping to at least break even with my current property while keeping the mortgage low on my next property.

Hello! My name is James Ive been listening to BiggerPockets for a few years. bought my first house in North Port fl 3 years ago! Now I am trying to buy a 2nd and rent my current home long term. Im nervous to pull the trigger because I am seeing similar homes in my area that have been listed for rent for MONTHS... I want to know how to analyze markets to see if my neighborhood is even a good location to do this. There is alot of growth here with Wellen Park being built currently but it tends to bring wealthier people in where my home is a 900sf 2/2(not so desirable for them.  Anyone near North Port Id love to meet and talk real estate! otherwise any advice is welcome!

Hey there! 
I am also trying to get started in wholesale so this was helpful. Thank you. 

I had a question that may be could be answered on this forum.

Is it possible to wholesale a property that is on market? I have found a few homes in need of rehab that the asking price is below retail value. I have put in one offer and contacted the title escrow company. Are there any other fees aside from the cash price and closing costs that the buyer I would be assigning the contract to will need to pay? So that I can include this while considering an offer price.