All Forum Posts by: Shawn S.

I just got a place for around $70k and my closing costs were $3500.00. From what I understand this can vary a lot depending on location and the lender you are using.

On your early properties for buy and hold investors, was their a price range on properties you would look to where it seemed if you went lower the place was not quality enough and if you went higher the rent seemed to lessen from a percentage standpoint comparted to the property value? So far I've mostly shopped in the 40-70k range. A downside of going higher for me seems to be that the down payment of course is higher. But long term I'm wondering if I should allow that to be a factor.

The thought occurred to me today as we are shopping for our 2nd property and still far from knowing what I'd like to know at this point the following question came to mind for experienced investors.

If you could pick just one thing you wish someone had told you when you first got started with REI, what would it be?

Mehran Kamari Is your Heloc from your personal residence or one of your investment properties? I'm curious for more info on how you go about financing that way as we look for our 2nd property.

I think I see why I was confused. Another poster suggested you were going to be moving a lot. I had the impression you were planning to move each time you got another property:). My bad.

I think your plan looks solid.

Are you putting 20 percent down on each place? I ask because I thought you had to live there for a year if you put little down.

Michele Roseland Welcome, we just went to Madison for dinner last night.

I'd think student loans would be low enough rates that you could wait on paying them off. But the cc likely needs to be your focus.

No doubt it is better if you can view each property. But I think a solid PM will be more honest in looking at a property than some think. It is in their best interest for you to be successful. They are not getting a one time commission.

Well done Dawn. I'm glad that worked out so well for you.