All Forum Posts by: Jordan M.

@Henri Meli For example, in the photo, the property at 525 third loop unit F: Purchased for $58k and then sold for $100k 4 months later. Listings in this neighborhood typically go for around that $58k mark. What's going on there?

Newbie here.

I have been seeing this a lot lately on the county qpublic. These are in an apartment complex where I am looking at a particular unit for purchase. How can a property worth $40-$70k sell for $99k? They have all been bought and sold by the same owner to the same buyer. Neither buyer or seller are in the area. This is in SC.

I'll do just that.

I have the same fears that you had, getting laughed out of the bank. That's been exacerbated by my prior lender and his assistant seemingly ignoring my inquiries asking about the subject.  Makes me wonder if it is a taboo subject or something.

I'm a little worried with the current market climate that interest rates will continue to climb, especially for young inexperienced buyers like myself. A friend of mine who works in banking told me if I had waited one more day on my mortgage I would've been paying 1% more for my interest rate.

Hi Randy.

I've been looking at single family condos. I have found 3 with very little work needed for $60-$70k. 

I'm not looking at making a jump to homes just yet. I wanted to start as small as possible. 

Our current home is appraised at $185k and we carry a mortgage of $159k. I wiped out nearly all of our non-retirement savings on the down payment. I have around $3k in bank savings and $8500 in stocks. Should I continue to save until I have 20% for the down payment or just put down the  $11500?

Hello!

I am fairly new to the Florence area (9 months now). Just bought my first home for my wife and I in December and am now looking to expand my cash flow. 

I am an avid investor but have been disappointed with mutual funds, 401Ks, IRAs, etc. my current job does not offer any sort of retirement plan and I am looking to do what I can actively to make up for that.

 I love management (I am the Administrator for a local healthcare business) and love entrepreneurship. I have always hated the idea of working for someone. I am also interested in DIY home projects and am quite skilled in some areas.

 I have long been in love with the idea of renting but not committed. I am currently 29 with a wife of 1 year who is a teacher. We make a combined income of around $60k per year after taxes and have a debt to income ratio of around 31. This does not count bonuses we receive at work, just our flat salaries.

I am new to REI and looking to make the plunge with my first rental property. I have been reading the books and have made a list of properties with my realtor.

My biggest apprehension is the amount of debt I carry. I come from a very conservative family background that never took risky investments and always believed your primary focus should be staying out of debt, making safe investments, finding a stable job and then retiring at 55-60.

I am asking for guidance on what to look out for and would love to connect with people in my area!