All Forum Posts by: Tajanae Boone

@John Aloisi Thank you!

@Joe Villeneuve I was told it previously rented for $1,000

@Joe Villeneuve $825 month for property A , no tenants in property B so I don’t have a number

I’m a young investor in Wilmington Delaware. I need advice on buying my first rental property.

Property A.

68,000 , 2BD 1 BATH, in a good neighborhood in the west side of Wilmington and already rented out with tenants for this year but property value will most likely not increase much in the next few years. Families love to rent in this neighborhood.

Property B:

75,000 , 2BD 1 BATH in a bad neighborhood in the south side of Wilmington but city is doing construction and adding stadiums in this area. Seller has done several renovations and I would get instant equity. Property value could sky rocket in the next 3-5 years. However, I need to find good tenants who will be willing to rent in that area.

I’m really focused on having the cash flow. Which one do I pick as my first investment?

Investing in vending machines, is this a good source of income?

How do I get started?

Do I need a business license?

And do I need contracts from big companies like Pepsi to sell their drinks?

Any stories are welcome

Please help!

I am a full time college student in grad school and I still live with my grandparents. They have told me that they do not want me to move out however, I do want my own place. However, I want rental income more than I want to move out.

I have around 8,000 saved and I recently got my real estate license because I want to earn commission with my investments. I currently live in Delaware and my license is in Delaware as well. I am waiting on my preapproval letter, however I’m torn between investing in a duplex or a regular one family home.

The duplexes here are pretty old but If I invest in the duplex I can live in the top and rent the bottom unit out. I could possibly use the fha for this as well getting a lower down payment. If i invest in the single family home townhouse or detached , I would have to live in the home for a year before I could rent it out, using fha loan for the lower down payment. Or I can do a conventional loan which means more down payment money. I’m torn between what kind of property I should invest in as my first rental property.

Any suggestions? Any investment experiences are welcome as well