All Forum Posts by: Mike Rosso

Welcome to the site Jason!

Welcome to the site Geoff!

Very insightful book. I have started listening to the podcast from the beginning which led me to this book. Looking forward to continued learning on BP!

Hey @ Alex Witte I'm so glad I found this post I was literally just thinking about doing the same thing today! I am just starting out as well and have not done a deal yet. I called a number off of a sign today and found out the rent but did not directly ask if he was interested in selling. I'm going to call and just ask if he is interested in selling or has any other properties for sale and see what happens! 

Hi @ Stepanie Potter

No both units are already rented under the previous landlord.

@ Dmitriy Fomichenko thanks for the advice! I have listened to many of the podcasts and plan to attend a local meet up!

@ Chris Mason okay thanks for the advice!

@ Chris Mason it is actually a duplex sorry should have clarified that. I contacted my local bank who carries my mortgage and they said for an investment property I would need 25% down?

Hello BP community. I'm looking for some advice on the best way to finance my first rental property. The property I'm looking at is currently on the MLS priced around 100k. The unit is already rented an does not require any immediate rehab. Here are my options. 1. Traditional bank financing with 25% down using my personal savings account for the down payment. (This would pretty much liquidate my personal savings account.) 2. Traditional bank financing with 25% down using my primary residence HELOC for the down payment. (My HELOC is up to 50k) 3. I am not familiar with seller financing at all. I have read about land contracts on the forums. Would this be a good option to look into or is there another option I am not aware of? Any advice would be appreciated thanks!

@Joseph Cornwell Great post thanks for sharing! I think about this topic all the time both in my personal life and REI. I am new to REI and have not done a deal yet. Whenever I bring up the topic with friends they tell my I'm crazy for wanting to own a rental property because I'm not very "handy" and would have to pay for rehab/repairs. Wondered what your thoughts were on this subject?