All Forum Posts by: Phil LeNeveu

@Paul Hitchings why excluding student loans? 

@Brian P Holland I work at the bank so i get an extra 75.0 bps decrease in my effective rate and I am keeping it at floating 5 yr so it is cheaper. Plan to have it paid off by September.

@Account Closed i have been effectively paying them since June, and had to prepay around 30k in order to get them refinanced a couple of weeks ago. So ample ability to service the loans, just wondering if the debt level will preclude me from taking on more debt

Thanks

So I have a very peculiar situation. I have been at my current job for almost a year (I work at a bank which allows for very favourable rates on mortgages and student loans) but i am currently carrying a decent balance on my student loans but have refinanced them to around 2.5% and have saved up a very large lump sum in order to save for the down payment on one or two neighboring state investment properties.

I guess my question is, will I be able to get a mortgage while carrying student debt and secondly if my student debt is cosigned by my father, does that make it easier?

or what do people suggest as the best option going forward

Thanks

@Austin Fruechting are they all in the Kansas City area? 

Hi Everyone,

I was wondering if anyone has had any success with buy and holds for rental income in the Portland Maine area (and suburbs)

I often get more nervous about smaller cities but it seems to represent stable population growth and low unemployment. 

i am an out of state want to be investor and the proximity allows it to be a good target 

Would love to chat with anyone from the area or with experience

Thanks

Thank you for all the valuable insight. I am an out of state investor looking to get involved in 2 or 3 of these cities.

Thanks everyone. i appreciate all the advice and help and will continue my diligence until i make a decision

@Derrick Aragon Something closer to home is much more expensive but you make a very good point by looking 45 minutes outside the city. I wouldn't touch Detroit with a 300 mile pole, and only chose Cleveland and Columbus (more so Columbus) because i have family on the ground there i could leverage as well as Columbus being a strong rental market with a growing population.

The situation i am in is not a cash problem as i have a substantial amount saved up from working, it is more of a time problem given my job is very time demanding

Hi All,

I am relatively new to the site, in the sense that I have read hundred of forums and listened to countless podcast episodes in order to learn the fundamental background information needed to be able to post (my first or second post ever). 

I guess my real question or discussion is I would love to hear about anyone on here who was deciding between turnkey (yes i am aware there are many threads on this) or just going on zillow / realtor.com, etc and finding a home for sale in the areas they are interested buy it and manage it themselves as a buy and hold long investor. Which seems to be easier and is there really a big difference in fees other than the management fees? I am interested in a couple cities around the USA (all out of state) Columbus, Cleveland, Atlanta, Houston, and Portland Maine areas and their suburbs. 

A bit of background about myself: 

I am a recent post graduate who lives and works in Boston.

I work full time, really enjoy my job and am not planning on quitting or switching over to real estate full time and i really just want passive income so please don't barrage me with comments showing how flipping and rehabbing is so much better. I have no interest in either at this point in my life due to work hours constraints.

tldr: Turnkey & management vs Zillow property purchase and self manage out of state while working full time

Thanks 

@Kevin Siedlecki Thanks Kevin, will do