All Forum Posts by: Jonathan Steiger

@Jon Kelly well said. Was also shocked to see all the Ramsey talk on here. Real estate is so powerful because of leverage. Buy good cash flowing deals using leverage and you will be successful over time.

I would add try going for a quad (4 plex) with a 3.5% down FHA loan. Do not buy with her. If you are together long term have her do the same before you get married.

@Nathan Gesner why not start accumulating assets though so that they cash flow and appreciate? Couple it with depreciation and mortgage paydown and you are sitting pretty good once those loans are paid off.

@Howard Montaque

I highly recommend Parker Borofsky and her team at Movement Mortgage. They know how to close and are very knowledgeable with various loan products.

@Angela Dahlen it all depends on what your goals are. Do you want to become a home flipper or do you want to build a portfolio of cash flowing rental properties that provide you monthly income? If the house will sell for that much in this market can you find a bank that will refinance at that price point? I’m willing to bet you can. Also, I’m not sure what your relationship with your realtor is, but remember realtors make money when their clients buy and sell homes.

@Justin G.

Sorry, I wish I could, however I don’t have their emails. I’ve only connected with them a few times each via messaging on BP.

@Tyler Gerhold

I personally don’t have any experience in this area yet (large deals in Cincy/Dayton), however the two guys below may be able to provide some insight.

@Aaron Bonne

@Lee Yoder

As @Luke Carl mentioned, vacation home loans are getting a lot of attention right now. Lenders have increased rates over the past few weeks. See the below article for further explanation. As far as I understand, this shouldn’t have an effect on 10% down vs 20% down.

https://themortgagereports.com/75059/new-investment-property-mortgage-fees-fannie-freddie

@Richard Mazolewski I don't know anything about the California market, however I'd assume that a nicer property in a better neighborhood will cost significantly more and have a lesser ROI. I know a lot of individuals in the Bay Area have to invest out of state for that reason.

Real estate is proven to work. Millions of people have had success. Those who haven’t tried it don’t know the power of it or think it’s too much of a hassle. For those who have tried it and talk down about it, they most likely failed due to not running it like a business or bought bad deals that burnt them out. If you buy right and always run it like a business you will succeed.

@Stephanie S. I would look into purchasing one home in cash using the BRRRR method. If you invest in the right deals, when you refinance out you can recover your initial investment and continue to recycle the same cash over and over.