All Forum Posts by: Michael Donovan

Hey Joe,

Fortunately we're very responsible with our money! Cars are all paid for, no extravagant toys or exotic vacations! We love our home and the town we live in. We are actually making home improvements (all cash) that will increase the home value. 

The down payment would more than likely come from cash reserves. 

My wife and I are interested in starting to invest in real estate to create passive income for our retirement. We're both 58 but I have heard on many occasions that you're never to old! Anyway, we currently owe around $380,000 on our current home mortgage. It would be fair to say that the home would sell for around $550,000 to $600,000. My wife also is a co-borrower on our son's home on a mortgage of about $200,000 which was purchased about a year ago. At this time, my wife is the only income earner which last year exceeded $500,000 with salary and commissions. Would this scenario make it difficult to secure mortgage funding for an investment property? If not, what are some suggestions on how to make that happen? We appreciate your suggestions! 

All you young bucks sure do make me wish I was pushed in this direction years ago! Not that I'm saying it's too late but you know what I mean. I've been following BiggerPockets (podcast) for a while now and have done a lot of reading myself. I've also recently become a RE agent down on the CT shoreline; Old Saybrook to be specific. Would really love to engage with any and all of you to talk RE investing shop. 

Just what I was looking for . . . RE investors in CT! I'm late to the game (even though you're never too late) but am really looking to get started. I just became a RE agent last October when my job was lost due to COVID. My wife and I live up in Old Saybrook. We're 57 now and would love to hear from similar folks in the same bracket! 

@Nick Koukidis would love to know when the next ZOOM call is! I also plan on jumping on the CT Forum!

Look forward to meeting everyone . . . one way or the other. LOL

Just saw this string and would love to attend. I just became a real estate agent and have a strong interest in investing. Although I now live in Old Saybrook, I grew up in Bethel so this is the perfect excuse to go to my first meet up. I look forward to meeting everyone! 

@Jake Garrity Really appreciate that you shared all of the details! Congratulations on this project and good luck moving forward. No doubt your future endeavors will benefit from this experience.

Looking for low risk real estate inverting opportunities. Any positive/negative feedback on DiversyFund? Asking for a friend. 

Looking for agents and attorneys in San Francisco. #DavidGreen

My wife and I are in our mid-fifties but would love to start a real estate investing journey. To get the ball rolling, I've listened to many of the BiggerPockets Real Estate podcasts, I'm reading Brandon's book; Rental Property Investing and listening to Rich Dad, Poor Dad on Audible! My concern is that we're getting in too late. It seems that everyone I listen too is much younger; which is awesome, by the way. Just wondering if there's anyone else out there in our situation.