All Forum Posts by: Lawrence Moore

@Sandra Gibson Price range 200K to 350K. 

Hi all,

I am looking to purchase a house within the next 2 months and am looking for an agent who can help me find a property for investment. I will be living in this property for one to two years but intend to turn it into a buy and hold property. I am interested in a realtor who specializes in the area around I-10/610, or the I-59/610 area.

If anyone can offer assistance, please message me. Thank you!

Hello everyone!

I am a new graduate with not a lot of savings. I am moving to Houston, TX and am interested in buying a property to live in for 1 or 2 years and then rent out afterwards. However, with not having much savings, I am wondering if it is wiser to get an FHA loan with 3.5% down and the required mortgage insurance premium (1.75% I believe) or live in a rental until I can afford the 20% down payment to reduce my interest payment on a conventional loan. I am interested in $200,000 properties and it would probably be another year before I could afford the 20% down payment.

Any input is appreciated. Thank you!

@Treston Wobig Thanks for the input. I think that is my biggest concern with going this route. Paying close attention to the next elections for sure

Thank you for the great responses!

@Jasmine Ansley I am glad that I am not the only one who has pondered over this! Does having your investment properties under an LLC provide any benefit in regards to your debt to income ratio? Congrats on your first property!

@Bruno C. Thank you! I think I am leaning more this way too. Good advice on low monthly payments in regards to debt/income ratio. I didn't think of that.

Cheers!

Hello all, I'm a new graduate and eager to begin my real estate endeavor but first I am considering how to handle my $120,000 student loan debt, which is currently financed through direct federal loans at 6.8%. I will be working for a non-profit hospital which qualifies me to be eligible for the government's Public Service Loan Forgiveness (PSLF) which would forgive the rest of my direct federal loan balance after 10 years of public service (assuming the program is still available in 10 years). However, this program does not allow me to refinance my loans to a lower percent of say 4% for example because then they would not be direct federal loans anymore, which is the only type of loans eligible for forgiveness. With either route, I plan to invest in buy and hold rental properties to cover the student loan payments.

So my dilemma is, is it smarter to refinance my loans at around 4% or take the gamble that the PSLF program will be around for the next 10 years and make the minimum payments at 6.8%?

The way I see it currently, 4% would leave a bigger margin for profitable investments but sticking with the possibility of loan forgiveness at 6.8% after 10 years may be better long term? Is there anything else I should consider? Any input is appreciated. Thanks!

I'm looking forward to absorbing as much as I can

I'm Lawrence and just recently graduated and started practicing as a Pharmacist in the Houston Texas area. I am eager to start learning more about the real estate market in the Houston area and begin building a real estate portfolio. I can't wait to start meeting other investors in my local market as well as everyone else in the Bigger Pockets community. Looking forward to a great experience here!