All Forum Posts by: Tyler B.

I have not sold it yet, but it will probably be done within the month. 

I think I'm going to just wait until I move back to Michigan and can afford a property with cash since I haven't done enough research to pull the trigger yet. 

Thanks for the responses everybody!

So I am an Internet Marketer who hit it fairly big with a website. Currently selling my half and will have significant cash flow from that for the next year (I'll have around half a million but looking to keep real estate capital around $100k). 

Now, I am pretty good at marketing online but I'm fairly new to finance and even general business basics. So I apologize if this comes off noob-like!

I'm worried that I won't be able to prove my income after this buyout goes through. I WILL be getting payments until the end of 2016 but after that I will have no income. (I do have other online projects in the works but they aren't sure things). 

I'm looking at duplexes in the Bay Area (would love to do Marin County) and I'm looking at over $700k for anything decent. 

If I put $50k down and proved my income for the past 2 years would I be able to get solid financing?

My credit score is ~750 and I would be a first time home buyer

Thanks for reading! Feel free to shoot holes in my logic

Hello!

My name is Tyler and I am really interested in real estate investing. I was just bought out of my business and have money to invest, but while I am starting a new online business I will have no proof of income so I'm struggling with that. 

I'm mostly interested in multi-family homes but there is nothing I can afford here in Marin County (San Rafael, Novato, Larkspur, Mill Valley, Corte Madera). I am originally from Michigan so there is always the possibility to go back there and invest after a year.

I am looking to stay in California for at least another year so not sure where to go from here. I was thinking of buying a single family home and renting out the spare room(s) to cover some of the mortgage. Is this a dumb idea? I just don't want to spend $2k/month on an apartment when I can be paying off a mortgage. 

Thanks!