All Forum Posts by: Ryan Jonson

Lastly, what do you guys think about interest only mortgages? For the first 7 years, it seems I can get a near guaranteed net cash flow due to the  interest only payments.

I can afford the risk of paying the normal mortgage after 7 years.

Thanks guys!

Refinancing a FHA seems like a great idea.

The appeal of finding something here is 3 fold. Its an area I'd like to own a house in, the tenant base is of really high quality, and managing the property would be easy. However, except for maybe a few properties, the rent to house price ratio indeed makes no sense so I'll look around to other nearby areas.

Another question I have is, up to what $ amount can you deduct interest and property taxes on rental properties? I am thinking there has to be a limit because otherwise if I had 4-5 properties, I'd have 0 taxes. (looks like its up to a $1,000,000 in loans. Thats a $44k deduction first year! Also the tax savings may not be as large as I thought since you have to undergo standard deductions)

I am considering that. However my worry is that managing properties from afar will be extremely difficult.

I've been looking at FHA loans, but the MIP payment really kills the deal.

Hello.

I only have 20k saved up so far and have an income of about 4k/month after taxes/expenses.

I am around Los Angeles, CA and all the housing prices here are riduclously high. A 2 bd condo goes for 400-450k (and rents for about 2.0-2.5k/month. 

The crappiest houses start at 500 and any decent one is 750k+.

Does anyone have any advice as to what I should be looking to do?
Thanks.