All Forum Posts by: Malik Roley

Welcome to BP!

 @Paul Timmins if you don't mind can you expound a little on what you meant when you say you don't have to own a property to control it? Thanks. 

welcome Oscar. Which areas of Houston are you interested in?

Justin, I have my eye on the same area of Houston as well. Welcome!

Welcome to BP and thank you for your service. I am also in the Houston area with a investment strategy and goals. Perhaps we can work together or help each other out in the future.

Thanks for all the responses.

@Dennis Kolsch how did you finance the remodel if you don't mind me asking?

@Account Closed I can get financing but I fear that my DTI may limit the type of property I may be able to purchase. Although I have heard some critiques of this method, I plan on drawing money from my jobs retirement plan (TSP) to make my down payment.

I am currently in the learning and research phase of REI and I was wondering which option would be more prudent. I plan on buying either a multifamily or a SFH (to live then rent) later on this year and I hope to use the FHA loan to finance the property. As it stands right now I have about ~20k worth of debt (car, school). I want to get rid of this as soon as possible, but I really don't want it to come at the expense of me waiting even longer to get my feet wet in the REI game. I figure I can either focus more on getting my debt down so I can have a wider variety of properties to choose from, or I can. Set money to the side and use that to make a sizeable down payment. Any suggestions? Thanks for reading.

Appreciate the response.

Hello BP, I'm Malik a 25 year old prospective investor in the Houston area. I've been reading and doing research on REI for the past couple months, and I'm excited to get my feet wet in the real estate industry, particulary buy and hold investments on single/multi family units. One question I did have was my initial approach. Should I eliminate personal debts/improve my credit score before I make a foray into the market? Or is that something I can fix as I make my way along?

Thanks.