All Forum Posts by: Kyle Scofield

@Kayla Grau MIP is not calculated using the BiggerPockets calculator. You must find out the interest rate on your own. As an example, a conventional loan's interest rate would 3.5% so you type that in to interest rate in that section of the calculator. For an FHA loan, the interest rate would be say... 3% and the MIP would be 1.75%.. So now you type in 4.75% in the calculator. Does this make sense?

These are only hypothetical numbers so you will have to look into what they actual rates are

@Michael Diamond Check out @Brandon Turner 's book "The book on investing in real estate with no and low money down." He tells the story of how he got started with no money to acquire all his units. Great information! Let me know if there's any other questions you have.. Good luck!

Welcome to BP! being new, you should start with the Ultimate Beginner's Guide (www.biggerpockets.com/ubg).. Great foundation for someone new! Couple good books for what you want are "The book on flipping houses", "The book on estimating rehab costs", and "The book on rental property investing" Good luck! @Brian Haynes

Welcome to the site @Account Closed and provides an excellent foundation to someone just starting out.. Since you're interested in being a landlord I'll also recommend Brandon's book "The book on rental property investing" as a great place for you to start.. Good luck

@Adam Kasel The short and simple answer is....MATH. They don't do the math right. People don't include many of their expenses, capital expenditures, and vacancy. They buy hoping property will appreciate in value but then there's a market correction and it leaves them over levered and burned on the deal.

I'd start by investing in your education before you start networking! Get a solid understanding of the industry beforehand, it'll benefit you in the long run. Start with the Ultimate Beginner's Guide here on the site (www.biggerpockets.com/ubg) .. excellent starting point for a beginner looking to build a solid real estate foundation. Good luck! @Brian Wheeler

Can you get your real estate agent to send you a list of all properties with no mortgages on them? Or a list of properties with low amounts of debt on them to have a full list of properties to do potential seller financed deals with?

@Christian Costa Welcome to BiggerPockets! Check out the Ultimate Beginner's Guide written by @Brandon Turner and @Joshua Dorkin ... It provides an awesome starting point and a solid foundation for someone just starting out. Any other questions just let me know.. good luck!

@Lou Cali An awesome place to start would be by reading J Scott's book "The book on flipping houses" and "The book on estimating Rehab Costs"... Excellent starting point for someone looking to start in this niche.

@Justin Aguilar The answer to your question depends totally on the strategy you're using. Analyzing a buy and hold investment vs a flipping property vs wholesaling all gets computed differently. Maybe let me know your strategy and I can help point you in the right direction??