All Forum Posts by: Reuben Royal

Well first off, I just noticed that I posted this in the wrong forum, so sorry about that lol.

The problem is it isn't just me living there, it would be myself, my 16 year old nephew, my fiance and 2 sons... So I would need something a bit larger if I'm going to pull it off. Also, my area of operation is restricted because of the high school my nephew goes to (I'm his legal guardian), it's a really good high school and I'd hate to have to get up and move to an area with a less reputable school.

Hey guys, I'm brand new to real estate and am trying to get my foot in the door. I was told a good way to do this is to purchase a home until I can save some capitol to start putting down payments on rental properties then turn around and rent this property out ( I am currently renting). My question is that I've found a decent little 3/2 house that is being sold by the owner and has been on the market for over 600 days. It is in a nice middle class area just outside of town and they are asking 148,000 for it. Since I'm brand new to real estate, I'm not sure what a good offer would be on a house like this. If I buy it for their asking price or just under, i wouldn't be able cashflow the property due to the mortgage payment versus what rent is going for in that area. Any suggestions on negotiating prices, or if I'm even approaching this the right way?

Hey guys, I'm brand new to real estate and am trying to get my foot in the door. I was told a good way to do this is to purchase a home until I can save some capitol to start putting down payments on rental properties then turn around and rent this property out ( I am currently renting). My question is that I've found a decent little 3/2 house that is being sold by the owner and has been on the market for over 600 days. It is in a nice middle class area just outside of town and they are asking 148,000 for it. Since I'm brand new to real estate, I'm not sure what a good offer would be on a house like this. If I buy it for their asking price or just under, i wouldn't be able cashflow the property due to the mortgage payment versus what rent is going for in that area. Any suggestions on negotiating prices, or if I'm even approaching this the right way?