All Forum Posts by: Travis Dawson

Any time you aren't in a recession we are heading towards one. The economy is cyclical. Predicting when a recession is going to happen is 100% impossible.

However, I would say that due to the length of time of the current expansion, I'd expect it to be sooner rather than later.

I wouldn't worry too much about automation at this point. Historically the economy has shifted before, new jobs in new industries get created in placement of the outdated ones.

Yes. they will.

Once you find a home the real lending process will begin. They will gather information about your employer and call them to confirm current employment as well as how long you have worked there.

They will also be checking your bank statements for income.

@Jared Baker

Nothing fancy I'm afraid, just good ol fashioned savings financed my first deal.


This site is a good place for knowledge, you could try The Bigger Pockets book on low or no money financing if that is something you are interested in, a lender would be more than willing to walk you through different options, or a good ol fashioned google search would get you plenty of information.

I'm guessing the pros and cons of an FHA loan would be a good place for you to start.

Getting a solid salary in your W-2 will help you the most. 

Read up on different loan types and strategies and find one you feel you want to pursue.

Network like crazy.

Limit your liabilities, i.e purchase a car you can't afford.

yes. Tell your lender, they are going to find out anyways 

Well if the house has been up for 100 days with zero interest her starting price is too high.

If the end goal is to stop the bleeding from her mortgage the fastest way to do that would be to hire a seller agent and get the property handled by a pro.

If she is intent on selling it herself and needs a renter she can look into month by month renting laws in her state or potentially short term rentals in AirBnB if there is a market for it where she lives.

Its possible, sure. But read the HOA agreement carefully. It is fairly common for Condo the limit the amount of renters, or ban them all together.

I do believe that even with an FHA loan 100% of the down payment cannot be a gift. Talk to your lender for more details. You will also need your grandfather to sign a letter signifying that it is a gift and you don't have to pay him back.

Of course you could always season the money to avoid those problems. 

Something that hasn't been mentioned so far is that you have to let the property season for 12 months before you can refinance. Just something to consider.

As far as water meters go, check the comps in your area and see what they are doing. I'm my area it is very common to owner to pay water,sewage, and garbage for duplexes and up. If you plan to deviate from the norm you need to adjust the price of your rent accordingly.

As the saying goes, "The best time to plant a tree is 20 years ago, the second best time is now".

As long as your family is on board, go for it if that is your goal.