All Forum Posts by: Syed Hussain

Thanks for the advice @Tom V.  I was able to make that payment and wiped out half of my remaining debt.  Feels good to know that I will be out of debt a heck of a lot sooner.  In the meantime I will learn as much as I can about real estate and maybe even look for some creative ways to finance some deals.

Hey JD.  You're right it does come down to math.  Just wanted to see how others approached similar situations.

The down payment is for an investment property and yes my student loan interest is deductible.  I have a very stable job as an optometrist and I have reserves for 2 months of expenses, which is separate from the $15,000 down payment I have saved so far.  I'm looking in the MD/DC area where I will be staying for a while because of my job and family close by.

Thanks! 

Hello community.  Had a question I've been wracking my brain over for a few weeks and would love your input.  I have about $15,000 saved up for a down payment and have determined I'll need about $25,000 to afford a down payment with reserves for the type of homes I'm targeting.  

I also have 2 student loans at 4% with a total balance of about $30,000 remaining.  I would love to get rid of this debt before I start investing in buy and hold properties.  I know it's not a requirement but it's more of a psychological feeling.  But I can also just make minimum payments on the loans and save up my needed down payment in about 16-18 months.  

Should I just use my savings to get rid of my debt super fast and start saving from ground zero or should I just leave my debt alone and focus on my down payment?  Or should I stay on my current slow and steady approach of saving a set amount and applying extra payments towards my loan each month? I know there is no right answer, but what would you guys suggest?  Have any of you been in a similar situation?  Would love some feedback.  Thanks!

@David Dachtera yes follow through is important.  I serve as a mentor in my current field and if I see the student can just follow some instructions and not flake out, I know they want to learn.  Thanks for the words of wisdom.

@Alexander Felice great point.  It needs to be a win win for both parties.

Thanks for all of the info.  @Brett Snodgrass great list I appreciate it.  I would like to meet with a few and see who I feel most comfortable moving forward with.  

Hello all.  I'm in the process of meeting up with some experienced investors and pick their brain about the local area.  I want this to be a beneficial experience for me but I also don't want them to feel like I'm wasting their time or just leeching off of them.  Any tips on how to approach these critical meetings and what type of questions I should be asking?  Thanks.  

@Tyrell Perry congrats.  Hope to get my first rental property later this year.

Do you mind if I ask how you plan ongoing management of the properties since it seems you don't live in the area?  I would like to look into investing in out of state properties remotely but not sure how that would work.

Thanks and great job!

Thanks for the insight @Russell Brazil I won't totally eliminate condos from my radar but I will be cautious with them.  

Thanks for the words of wisdom everyone.  I had a feeling those prices were too good to be true just wanted to find out the issues that can come with owning a condo.  I will try to steer clear and focus on single families and small multifamilies for now unless I come across a fantastic condo deal.

@Nicole A. I'm looking at investments in your area I may get in touch soon!

Hello everyone.  I'm a brand new investor and have started looking at homes for sale in my area.  I see a number of relatively low priced deals in decent areas, but many of them are condos.  I ran some of them through the BP calculators with very conservative numbers and the returns were still very good.  They seem attractive to me because I can afford the down payment on many of these deals with my own money.

Is there a catch with condos?  I know there is an association fee but is there anything else I should look out for?  Are they a good investment in my situation or should I hold out on finding a good deal on a single family home?  Thanks!