All Forum Posts by: Taylor K.

@Macintyre Braun what about learning a trade? Better money in that than most degrees

Get a job and save every penny you make. 

 Skip college, start working and save all your money. Keep learning. Just my opinion

@Mark Ainley I currently supply appliances but have been thinking about stopping because of all the headache from them breaking so often

I agree with Joe. I work in Morgantown and would love to buy there but I think Morgantowns prices are just too high for the rent you can get. Also, tons of competition especially with all the new on campus housing they just built. 

Hello Everyone, 

I have some questions regarding commercial financing. I have a duplex purchased through conventional financing. I am looking into a 7 unit in which I would be purchasing with a partner. We have plenty of money for a 20-25% down payment, but the problem is our income. My partner is a college student with very little waitressing income, but a decent amount of capital (35k) and no debt. I work full time and have about the same amount of capital. The asking price for the building is $165k. The gross rent is about $3500 a month. So my question is do you think this is possible for us to pull off? How much do banks consider DTI into commercial loans?

Jeremy Pace thanks for the reply Jeremy. The banks I have talked to want to see two years of real estate experience in order to count my rental income towards my debt to income ratio. I was hoping someone knew of one that didn't have this requirement

Hello everyone, I am looking for a bank in the Pittsburgh area that will count rental income towards income without waiting for two years. Let me know if you know any that will do this. Thanks in advance Taylor

Hi Everyone, 

I am looking to buy deals owner financing to grow my portfolio faster. But I have one concern. Does the property have to be owned free and clear in order for the owner to hold financing? I know the bank can call the loan due in this situation.. Any way to get around this, what are your experiences dealing with owner financing properties? Thanks in advance

Hello everyone, 

I am looking to purchase a property from an out of state owner. We have agreed that she would be holding financing for the property. What is the next step?