All Forum Posts by: Nicholas Jasmine

I will be at work, so I won't be able to attend. Please let me know how it goes and what is learned.

Thanks

Welcome to BP.  I'm in the Alexandria area.  What kind of real estate investing are you interested in?

this will be my second property, but the problem I'm running into is financing.  The bank approved me up to 100k, but they could not go any lower than 55k.  Now we have been shopping around, but does anyone have advice on this?  The property we want is 42k.

just inspect the home really well because the roof, air conditioning, or foundation may need repair.  These items can break the budget.

I think people should invest in both markets. One thing I know for sure they will both provide a great retirement. Both investments serve their purpose and one should not have to decide one or the other. I've been investing in a 401k for 13 years and I will be a millionaire by 48 (34 now). Real estate can provide the same financial numbers, but you need more of your money to do it (down payment, closing, rehab, etc). I own one rental and I'm about to close on another, so what I've learned from REI is cash flow is everything. Its nice to have that extra income and that's something 401k cannot provide.

Im shooting for 10 units and a paid off primary.  I'm not going to retire just going to relax a lot more.  

I work in the oil and gas industry, so I'm there half the year.  The other half I'm spending time with my family and looking for deals.

 I definitely agree with this statement.

Its harder to refinance then most people think.  In my experience banks will only lend up to 60% of total value.  So unless your home is paid off or the value has increased exponentially in six months a cash out refinance is going to be hard.  This is just my experience.

thats a lot of money for an unsecured loan.  Most places will want some sort of collateral.  I would say just get a conventional mortgage and save the headache.