All Forum Posts by: Jon Rylander

I think it is smart of you to look into both flipping and buy & hold.  My first deal was a flip and it went great. Im waiting on a few short sales to go through the bank right now but doing that first flip gave me enough money to buy another to fix up a bit and rent out.  Good luck and welcome to the site

Say I go with the FHA and am happy with the returns how can I use my cash to pursue another property? Will a bank finance someone for a second mortgage? I'm sure it depends on DTI and any equity you could use towards the loan but does anyone know how this works?

Hello, BP

I'm looking to invest in a duplex in st. paul MN. I plan to live in one unit to obide by any owner occupant requirements but im debating if i should just go with a FHA loan at 3.5% down payment but I hear you can save alot in the long run by putting down a 20% down payment. If i do a 20% DP then i wont have much for any rehab or updating that needs to be done. what option have you guys done and what are the pros and cons going either way? thank you guys for being so helpful on this site

Thanks, Jon Rylander

i have been looking at some options for moving out of my parents but still being able to make income with real estate. Im thinking of buying a duplex or something since I'm about to be done with my first house flip and will have a good chunk of change to play with. I would like to buy a single family house for myself and still be able to buy another one to rent but I'm not sure if its possible or how it would work but what do you guys think of having a duplex and living in one unit and renting the other one out? is there more issues since the tenant is so close or are there benefits to living next to the tenant

so once i rent out a house how am i able to buy another one? will a bank finance another house for me? do i need a large down payment?

Hello BP

I have a house right now that I am flipping with my parents we got the house in sept. 2013 and want it on the market by june 1st 2014 the mortgage is in my name but my parents are doing most the rehab and we will split the profit 50/50 we bought the house for 118,500 and have about $90,000 in the rehab. its a nice 3 bed 3 bath with a great view of the lake but no lake access. we hope it sells for around $280,000 to $300,000 which leaves a profit of around $70,000 - $90,000 and 50% will be mine. I still live with my parents and want to buy a house to live in. I dont want to rent but if i buy a house I'm afraid i wont be able to finance another house to rent out. i thought about getting a duplex and live in one unit and rent out the other. I just want to make a smart decision so i can still invest in real estate but also have a house of my own. Does anyone have any suggestions or advice they can give? I would like to do the buy and hold method or flip another house what are my options if i finance a house to live in and then try to buy another to rent out?

thanks for your support guys ill be sure to do my homework and read up on this site. I look forward to pursuing real estate investing. Have a good Easter everybody

I am new to this site and new to real estate investing. I have a house that I'm flipping right now and hopefully it will be on the market by june 1st. I am partnering with my parents and splitting the profit 50/50 I plan to put my profits towards a down payment on a rental property. I read the article of how to make a million in real estate and I would like to follow that as much as I can. My goal is to make a million or have it in equity in 10 years. Do you guys have any advice or tips? what do you think about the "how to make a million in real estate investing" article?