All Forum Posts by: Rashad Colton

so I have still been looking for my first real estate rental here are the numbers:

(asking) price 69000, im using conventional loan with 15% down. The home needs about 4k-6k for repairs. The arv is 85-90k for similar homes. So im putting 10,350 down with $100 closing and seller will pay remaining closing and fees. My rate would be $58650 at 5.25% is this good? my credit scores are  717, 704, and 743. Looking at the deal i can rent for about $1000 per month due to it being a  3/2 in a decent area. What do you think? I am planning on going to view this weekend.

so i've found a potential first rental property price is 59k in ga.

• Price: $59000
• Estimated Fair Market Rent: $900
• Estimated Annual Property Taxes/Fees: $1250
• Estimated Annual Property Insurance: $980

arvs in the area is 85k-95k. Also the property needs Needs: Siding repair, gutter repair, exterior and interior paint, garage door repair, flooring, and kitchen appliances

I have about 6500 cash right now, should i look for HML that may work with me? should i save more before investing?

looking for rental 

so i've found a potential first rental property price is 59k in ga. 

• Price: $59000
• Estimated Fair Market Rent: $900
• Estimated Annual Property Taxes/Fees: $1250
• Estimated Annual Property Insurance: $980

arvs in the area is 85k-95k. Also the property needs Needs: Siding repair, gutter repair, exterior and interior paint, garage door repair,  flooring, kitchen appliances, other minor repairs.

I have about 6500 cash right now, should i look for HML that may work with me? should i save more before investing?

looking for rental 

Hi, I need help with my REI business plan. So here is what I have so far.

I understand debt to income needs to be 45%, so when filling my business taxes I wont write off as many deductions as last year to increase my debt to credit income, I also have a full time job in health care so my w2 reflect positive income also. 

Also I am looking to obtain mortgages on at least 6 homes next year between my spouse and I so do i need to take into account that rental income with lease agreement should account to helping my debt to credit income? 

@Taylor Chiu Im still doing more research but 10% looks solid, and 15k would be the down payment, but im exploring other options in order to obtain this quad

Hi, I found a quad that looks pretty nice. The area rents for 900-1200 per month. Do you think that this is a good deal?