All Forum Posts by: Joshua Chen

I can understand why you feel that's rude and presumptuous

Happy new year!

Loans are divided into different types. For a loan on something like your own home, it would be classified as a loan on "primary residence." An example of a primary residence loan is the FHA. Generally, an advantage of the primary residence loans is that they allow you to put less cash down. For instance, the FHA can have a 3.5% down payment requirement. With less down payment required, not only is it easier for you to get the property in the first place, but you are more "leveraged" in the property. (you possess the property while having to put down less to possess it) Being more leveraged in the property means your rate of return on investment, or ROI, will be greater. For a loan on a rental property, you are more likely to have to take a conventional loan. Conventional loans traditionally have a down payment requirement of around 20%.

You should try to do more research on the Columbia market for yourself!

Agreed, BP is definitely a great educational resource for new investors that otherwise may be more at a loss as to what they're doing. I am glad to have joined this community early on in my investment career!

I also look ahead, imagine the future, and make goals for where I want to be.

You have to read the fine print of the credit card details, but I believe some business credit cards give additional bonuses when you use them for specific business transactions.

A very insightful post on various exit strategies!

Investing out of state is possible, but challenging. The main challenge comes from the fact that you can't feasibly always be on site at the property and with the people involved in managing your property. It definitely requires more effort on your part.

Using social media sites to market can save you costs. All you need is access to the Internet to use them.