All Forum Posts by: Michelle Melchione

Hey @David Dachtera (I'm usually not computer illiterate but I can't figure out tagging without being colleagues), makes sense, but my grandma's owned and developed houses there for 20+ years and assures me the kinds of houses she gets rent out within a day of placing her ad, and she gets at least 10+ applications. I have no other model to look to, so I trust my grandma, but I didn't grow up around her that much so I've never probed her for her business information, which I will do soon to have a clearer picture of how she built and maintained her business. BTW I lived in Joliet for a year for 7th grade. I went to Hufford but got hit by a car trying to cross the street walking home at the end of the year. I jacked up my leg pretty bad, but I still got honor roll not even going to school or doing any work the last month. Off topic sorry, but I got carted off the Canada a couple months later. But Joliet was the one good place and one good year (besides the leg) I have from adolescence.

Nothing, that just what Im seeing them priced at on realtor..com. Which are probably market value which wouldn't make them a good deal. I'm just talking theoretically. Maybe I find some deals half that price, I haven't looked for any actual properties for analysis since I dont have my game plan in stone.

Paying down mortgage? Even though its cheap money, it isn't free money.

If you had about $2500- $3000 extra a month where would you be putting it? Saving in cash and/or gold & silver? Buying survival gear for the impending collapse of the dollar? Improving your house? Strippers? Travel? 

Okay say I go after 2 SFR (or two duplexes, which can be found in Pueblo)at 150000 each with 15 down, is that too much? If you were me what would you do? Obviously it depends on the actual deals, but should I start with one since I've never invested in anything? Or try to get two for more cash flow? The goal is making as much as I can with what I have to start. Is that biting off more than I can probably chew? Theoretically two is better than one right?

@Robert Herrera 1. Yeah tagging still not working 2. 18% sounds too good to be true, what risks are involved? Thats through REIT right? I would need to do research. I'm not looking to just throw my money at something, I can sit on it for a while if need be. How does it work? How do you protect your original investment? Can you take it out if you want?

Also if I dont pay of my cars and cc's we still have 19/32 DTI, and an additional $25000. So if we had to theres that option.

I don't think my tag worked.

@Chris M. Have you had both?

Well, having more tenants seems like more work and vacancies. Also a family who can afford a SFR in theory is less likely to flight by night, be late on rent, destoy things. Also my grandma has mostly SFRs and she's always been the most successful person I know, not that I know many. Although I don't really know all the ins and outs of what she owns and why, I've never thought to ask, because I've never thought I'd have money to invest. It's all very sudden, so I'm not set on anything, yesterday I thought duplexes or 4 plexes are the way to go, but the last article I read made it sound like SFR is the way to go. But it does also seem like 90% of people say Multi is the way to go. So I'm on opinion overload right now. Also my grandma may have a house she'd sell me (we didn't discuss details), and she said she could manage a property for me. I could probably manage myself as I don't have a paying job, but I'm 2 hours away in Denver and she already offered, so why not?