All Forum Posts by: Logan Lester

Thank you all for your input definitely looks like there is more than one to skin this cat. Is there an article or form that explains the different low down payment options and or the HELOC methods?

Theresa,

Thank you for your quick response. 

We've lived in the house for close to 5 years now. Based off an estimate a realtor did for us, we could make at least 50k on it, if we sold out right it instead of rent. Down side is we couldn't really get into a house we want with just that, and keeping a low mortgage payment. If we rented it out and kept it as generational wealth would you have to pay capital gains on it? The hope on this is to eventually use the income made off of the first rental to acquire another one, and so on. 

Based off of the rental calculator BP has the rent $ looks good but has a low confidence level. I'd be willing to review the numbers with anyone in a private discussion as well. 

Isn't there another calculator that breaks down all of the added cost to fund the rental property? 

Good night everyone. 

A little late to be posting but wanted to get some of those mid-night thoughts flowing. My wife and I currently have a great house that has the almighty low interest rate of 3.5%. Now the house is older, late 1940's but was remolded before we purchased it. Our family is starting to grow and my wife is wanting to get into something a little bigger and I want a bigger garage or shop.

After discussing with her, due to the age of the house she is wanting to get out from under it as there are some cosmetic issues about the house that would just take the time and funds to do (like replacing some of the laminate wood slats, harder to find an exact match than anything). But my thought is to turn the house into a rental. With slapping a fresh coat of paint of the decks I think it could be a very marketable rental. The only road block I have with convincing the wife, how do we come up with the 20% down for the next house? If we were to keep the current house we wouldn't have those funds. Which is my dilemma of selling or keeping. And based off of the price and interest rate we have, I don't really want to let if go.

Any input is appreciated.

Best Regards

Thank you for the warm welcome. Definitely the best name around ;) As I browse through BP it is definitely overwhelming the amount of resources that are available. Great tool that I am excited to use and learn. 

Good afternoon from Texas. My name is Logan Lester. I am in search of starting to grow my knowledge and connections in the real estate space. I would personally prefer to look at landing my first rental property as well as investing. I am new to both of these topics but am eager to jump feet first and learn what I can in order to grow personally and financially. If you are in the Central Texas area, please reach out let's connect.