All Forum Posts by: Joey Vasquez

 even under the brrrr method,  wouldn't you still need to cone up with 20% at the point of refinancing?

those were my thoughts exactly,  20% down? Makes it very tough to purchase a rental property under those requirements....

completely new to this and would like to know if when you find a property that you'd like to finance. would you be financing the same as you would a regular home for yourself or is it a different type of loan because it is an investment property? thank you...

I can't begin to thank everyone enough for all your support and responses. The support BP is amazing! Thank you!

@Anna Shaver That's exactly what I've thought. Making better decisions going in and really doing your homework, make for a better overall experience.  Thank you for the reinforcement!

i guess their input has me second guessing / questioning my decision is all.

Im trying to prepare myself to make my first real estate investment, mostly financially. But during this time, i have a lot of negative feedback from family/friends about all the things that could go wrong. from bad or dead beat tenants to dumping tons of money on repairs. I whole heartedly believe that real estate investing ultimatly is the way for me to achieve financial freedom......But what do you tell these non-believers. Not that i need their approval or anything but at least to make them understand this is not as bad as they may think. I just dont have the words to explain myself. I've read many books and feel totaly confident in what im persuing, just would like to be able to explain my decisions a bit better. Any help would be greatly appreciated. Thank you!

@j martin , i really appreciate the welcoming, im already amazed at the tons of info just from the forums alone...

Rentals are exactly what I am interested in, the question for me is the financing. I'm not too creative and can only think of financing via a loan. I just don't know where I need to be financially (money saved) to be able to make the next step. I guess it would mostly depend on the cost of the home I'm looking at. I spoke to a mortgage rep from my bank and said I would have to come up with 25% down on any investment property I'd be interested in. My problem is thinking of ways to come with the amount. I was hoping 5k would get me started but was really disappointed when I heard I'd be looking at more like 20k down on something I find worth investing. With kids and all, another 15k would take a bit of time to come up with. Any ideas?

@brian mathews I wish i could be of more help, reffering to the market down here. but i am truly new to this and wouldn't even now how to begin to gauge it. i work at the air force base down here but know i dont want to make this a career. real estate really seems to appeal to me. i would really love to find someone nearby for more guidance. i was born and raised here in del rio, pop. of about 55-60k. do you lease or own hunting property down here?