All Forum Posts by: Louis Walker

I'm really close to my first purchase and want to know how do I avoid two closing costs. I plan to refinance and pull money out but I know that the purchase will have closing costs, the refinance will have closing costs. Is there a way to avoid this?

Hello All!

I am a bit worried about entering the game right now with all the forecasts of different crashes, inflations, and possible fraudulent claims of the federal reserve... How do you weather a storm you haven't had time to prepare for? HELP!? What should I do? Talk me off the ledge, or push me over...I need help.

I want to build generational wealth. I want, more immediately, cashflow for financial freedom. How do I obtain these goals when the horizon is so turbulent?

Louis Walker

@Stephen

@Stephen Brown, thanks so much. I'll be at around 31% and that may be too high for some. Do you have any suggestions as to how I can lower this? I haven't closed on my new home yet so I'm sure the short answer would be to not buy the house, lol. It's not an outrageous purchase, the market has just been crazy, as I'm sure you know. Do you have any creative solutions that you could share?

Seeing how this was three months ago, are there any differing opinions about this now?

Hi,

I'm currently selling my home, buying another, and I'm wondering now if this is a good idea. I am buy high, and sure that I am selling high, but I want to get into real estate investment. Will this push my debt to income ration too high to get lenders to look at my proposals? If so, what are some ways forward for me? How can I still get others to invest in me while I try to move forward.

Thanks for your help!

@Brad Nelson, I think that I would continue to pursue real estate, it just depends on if it still works the same as it does now. I would practice more of a buy and hold technique until the market settles. I'm going to do this either way this proposed "bill" goes. I was more curious about how it would work. 

@Eamonn McElroy, thanks for the update. I know that a lot of new information can be presented as fact when it's only a proposition. I believed it mostly due to the state of D.C. and it's very rapid and somewhat erratic decision making as of late. I cant seem to understand most of the things that have been going on lately, but am dedicated to try and navigate all the ups and downs. Again, thanks for giving more insight on this. 

Louis

@Dave G. Yeah, what I was listening to said as much too. The proposal is being put together (if not already before Congress). I don't know what to think of it all, but I know that it's a bit disturbing to think of. 

@Christopher Smith, Thanks for the information. It closely matches what I was listening to as well. I hope that it operates the same as it does now. We are more interested in buy and hold, and progressing to a bigger property. I'm not sure, we're read to make our first commercial purchase yet but I was really excited and then....boom! Hahaha, but we will see soon.

Thanks guys! I appreciate it.

I’m hearing this new CGR could be a very bad thing. I’m not discouraged, but would like to get some guidance on how to maneuver it so that I can help my wife (and myself) purchase with confidence.

@Nicholas L. I own my home. I have savings as well.