All Forum Posts by: John Mason

@JayHurst  Thanks that was a  great explanation

Facebook groups in your area

https://kellerink.com/products/the-millionaire-real-estate-i...

https://www.youtube.com/channel/UCMB4AigBkfj-TFKLDsXcOTg

https://www.amazon.com/Building-Wealth-One-House-Time/dp/007...

Buying Investment property at 15 percent down using conventional.

What would lenders look for as documentation? Tax returns and w2 paystubs?

For a  300 K in Tampa Area what would be the down payment?

When we buy primary we do not pay mortgage for 2 months, is that applicable to investment property?

Thanks

In a position when I had 55 k and to do a quick start, I would have partnered with a high school friend, got a DSCR loan with a LLC by pooling money together and have an exit strategy of a buyout after 3 years or so. Would have bought a 400 K SFH house which can do STR and if not would be good to do MTR or LTR if the STR approach fails

This would have made my feet wet, got me money and I would have learnt the following

1.How to get lenders for loans

3.How to create LLC and use umbrella policy

4.Build a  network of lenders, PM, contractors and cleaners

5.Learn how to transition to MTR or LTR if needed

That would have been my approach to get a  quick start else I would have wasted months  on figuring out what to do:)

Maybe focus more on appreciation  rather than cash flow at present

Search here and you will find the best way to partner  with someone you know and trust

Example https://www.biggerpockets.com/forums/109/topics/912339-does-...

Or if you know some one well open a LLC and pool money and split the profit