All Forum Posts by: Account Closed

It really doesn't matter if you pay your debts off prior to closing because it will not affect the loan decision negatively.  Your credit score will no doubt increase.  Also, the increase in your available credit could move your score from one range to another i.e. from a score of good to very good or very good to excellent.  However, a lender will not change the interest rate at which you were previously locked due to a better score.  What will no doubt affect you is increasing your debt, which ultimately increase your debt-to-income ratio and can result in the lender declining your loan.

Just ordered mine! I am soooo excited! I'm sure l'll get much more done with such organization and guidance from this awesome BP team! I'll be leaping into the New Year on the right foot and note! :-)

Investment Info:

Single-family residence buy & hold investment in Glen Allen.

Purchase price: $105,000

Cash invested: $14,000

2 bedroom 2 bathroom condominium at the Landings of Laurel Lakes.

Investment Info:

Single-family residence buy & hold investment in Glen Allen.

Purchase price: $105,000
Cash invested: $14,000

@Kenneth N. Brown Thanks for sharing. I’ve thought about investing in lower income communities and am happy to know there is an alternative way to collect rent other than directly from the tenants. I work in as Accountant and have seen deductions from employees salaries for many different things but not rent. I’m so happy for this site and for everyone here who share their experiences. I no doubt will reach out to you at some point.

@Scott Rubzin My property management company charges 1/2 of the first month rent then 10% monthly. I get invoices for maintenance but the charges are usually low or fair.

@Jeff Bower Congratulations and thank you for sharing!  You surely inspire beginners. I am currently looking for a duplex to house hack myself and now even more motivated learning about your success story. 

I have been listening to podcasts, reading books and attending seminars for the last 6 months but have not taken the plunge into investing as yet. I also recently decided to get my real estate license and is currently taking classes.  After listening to Arianne, I've gotten the confidence to take this first step, I'm currently looking for properties and hope to make my first purchase soon. Thanks for taking the time to share your story!  I wish you continued success!

Looking forward to attend on July 25th!