All Forum Posts by: Jesse Brons

Hi everyone! My fiancé and I are trying to purchase or first rental property. We do not have much saved up for a down payment but we have family who is possibly going to gift us money. Also my fiancé has no credit, I have good credit...anyone else with this experience? Just posting to get some ideas from everyone on how to get around large down payment or any ideas in general on making our first purchase without much money?

@Ryan Plummer Thanks so much for the info! I would love to come to the next event. I’m just learning about real estate and it seems the southern Oregon market is an expensive place to get started. I know the market is there as no one can find a place to rent because they are all occupied. I just need to find myself a good deal and go for it. Thanks again for letting me know about the meet up.

Thanks for the info! Unfortunately those prices don’t exist where I live. At least not that I’ve found. This property is actually the cheapest duplex I’ve seen over the last month. I do have a lot of construction experience and all the tools that I would need for remodel so fixing it up is a possibility. But I do not know if it will make enough in the end anyways. It’s in an area I know will always be rented in so I’m not worried about vacancy. Rentals are hard to find in my area ( Oregon town of 60k) so every rental in this area stays rented at all times. Multiple comments now tell me this is a bad idea so I will most likely continue my search.

Thanks so much for the replies! The 1% rule is a huge help. I will most likely move on and find something that is newer and fits the 1% income. I’m ready to get started, I just want to find the right deal. 

Hello! My name is Jesse, I’m new to everything real estate, been listening to the podcast for a few months now and I’ve found a rental property I’m interested in. It is a duplex for sale at $185,000 , two 700 sq ft units, they currently rent for $650 and $850. Home built in 1915, has carport/storage outside for one tenant. 

My fiancé and I are looking for some cash flow. How do I move forward and what should I be paying attention to? Also I have a VA loan to use. Not sure if this place qualifies for it though.

Thanks!