All Forum Posts by: Nick Delfin

Hey everyone!

I am looking to purchase my first rental property sometime in the near future (within 6 months).

My question is, does getting a mortgage for a rental property affect my credit if I am looking to buy a primary residence in about a year.

Will I be denied for a primary residence if I have my mortgage for my rental?

Thanks in advance,

Nick

@Aaron K. Thank you for the reply!

That is a very true point for the victim of circumstance.

The right to purchase after 5 years was the deal that was brought to my attention.

I guess it is more so, a tenant right away without vacancy after purchase.

Hey BiggerPockets Family!

I have the opportunity to purchase a rental property that will have a guaranteed rent. The home is about $140-150K and is not in a busy area.

The tenant would sign a guaranteed 5 year lease with the option to purchase.

My question is, the home is not in a developed area, would a guaranteed 5 year lease payment out weigh the non developed area?

Thanks!

Nick

Hello Biggerpockets! 

I am looking to get into the commercial real estate game.

I have been looking to buy a building, but the price was taken off of the market and put into auction.

What could this mean?

Distressed owner? or higher purchase price?

Thanks,

Nick

@Domenick T. Thank you for your thoughts and wisdom! I didn't realize that ending leases between October and February are troublesome. I will look into that.

Hi everyone! I am new to bigger pockets and I a looking for some advice.

I am looking to purchase my first single family home coming in 2020. I am looking to buy a home around 150k and rent it out.

My biggest fear is having long term vacancy.

I would have the money to pay for the mortgage when nobody is renting, however, I am planning on buying multiple homes in the future and then that won't be an option.

How does one overcome this fear and plan for it?

Any advice helps.

Thanks,

Nick