All Forum Posts by: Charles Weisinger

20% down so no PMI is a good rule.
One advantage of using 20% down is that under United States tax law, mortgage interest payments may be deductible on the borrower's income taxes, whereas mortgage insurance premiums are not.

I just simply don't believe anyone could begin investing in real estate with zero credit, zero dollars, and zero help.
Save, Repair Credit, Get a prequalified loan letter, then go get the absolute best deal.

I live in Reston and have a rental property in Leesburg.
Let me know if you are local to the area.

I know what it is like to have small children.
My kids are 12 and 10, so now its a good time to get started for me.
But those first few years it would be impossible for me to start an REI.
My bills, credit and free time were horribile.
Now I am on much firmer fiscally sound feet to begin.

I agree its great.
Thank you

Okay , yes I am a super-newbie, yes I know you hate newbie so....
Bought my first property for the sole purpose of investing.
Not buying my home first and moving out later.
Okay paid 190k less 5k closing put 42k down.
Interest only mortage 6.875% for the first 10 years/30 year mtg.
Filled out a form for section 8 housing.
I am going to let weichert find me a tenant because its 20 miles from where I live.
I put an ad on craigslist, just hoping for feelers.
http://washingtondc.craigslist.org/nva/apa/244007813.html
So far nothing, no calls since last thursday, yes I know its only 6 days , but I guess I am nervous about being vacant all winter.
I have enough saved that I could pay for the mortgage no problem.
But like someone said you don't want a savings account investment where you are putting in all the principle out of your pocket, you want to make money off the rent.
Any good tips on finding tenants? What is a good thread on this board to find tenants.
Thank you for your help.