All Forum Posts by: Thomas Enright

Welcome to BP! Dive into everything. The forums, the podcasts, the books, the calculators, the webinars, etc. Bank cash while you're learning and then go buy some real estate! 

My personal opinion, you need to get some cash. It's awesome that you're so motivated but make sure you finish sharpening your ax before you start chopping. While you're sharpening your mental ax by continuing to read books and listen to podcasts, get a side hustle or cut your expenses and bank cash as fast as you can. If you slow down and wait till you do have that 20%, you'll probably be surprised by what you continue to learn and will be happy you didn't jump too early.

I really wouldn't mind something that would easily pull up any and all title data that is supposedly public information but I always have a bear of a time getting them. Things like deeds, mortgages, articles of incorporation, and anything else that a title search could find but in one location would be super handy!

Yeah that seems about accurate. Definitely seems like a haircut but 60% is a lot better than 0% and they should be pros about getting that money.

Yeahhhh that definitely seems wonky. See if you can get in touch with someone doing the same thing in your market and bounce those statements off of him/her. I'm sure that title person just doesn't know the full picture.

Hey man, congrats on making the decision to buy a rental property! Buying a rental right now will almost certainly hamper an effort to buy a primary residence earlier but like someone else said, one of the best things you could do right now is to buy a rental that you'll live in for the first year. This way, you'll get the best financing terms. Then, move out of it and do it again and again, if you're up for that. You'll be able to do about 4 properties this way pretty easily and they'll all have super awesome owner-occupied financing to carry you into your investing future! 

If the rates stay like this for another year or two, we'll definitely see property values go up. The Federal Reserve has stated that they plan on raising interest rates back up when they think the economy can handle it so I don't think that we'll see too many issues long term in the 30-year range. Just my opinion. 

Congrats!! Now keep doing it till you're wealthy. Also, don't sell it. Biggest mistake I made was selling my first one because I thought I had bought it wrong and such. Just hold on to them and refinance if you need to.

If you go to the "Network" tab at the top of the website, you should be able to find agents in those areas that have accounts on here and that might get you headed in the right direction.

It could definitely be good for cashflow but it won't appreciate in value. Are you buying the land it's on too?