All Forum Posts by: Wesley Dunn

Thanks for all the guidance glad to know my plan is possible with a bit more knowledge 

Thanks for the response, I have only done research online so i could have miss understood the jumbo loan thought it was similar to a portfolio loan were i could use the money to buy many property. Guess i should speak to a local bank for better options, i just needed to get my plan ironed out before i spoke to anyone else. thank you for the advice i will look further into it

Hello to All

My Wife and I are planning to build a good long term investment in the form of a Rental Portfolio. I am new to the real estate world but I have been doing as much research as possible to better my chances at success and I am willing to learn as much as possible till the time is right to start investing. At this moment I will be talking on my own behalf since my wife will follow in my footsteps. I am currently building my credit as well as saving for my initial deposit. This is my vision I plan buying my first rental for as low as possible with a conventional loan, bringing in an income of $300. After 6 months I will buy another one bringing in the same amount. I than intend on saving this for my next big property or 2. Now I understand after 4 houses it gets difficult so I was planning to take the income of these 4 houses to finance my Jumbo loan which I would use to buy more rentals which will be able to produce pure profit. With that I plan on getting as many Jumbo loans as I can to grow my Portfolio. I am planning on getting it threw Wells Fargo as well as the Jumbo loan if not I will turn to local banks or alternative sources. Can I get some advice on my plan any and all advice will be greatly appreciated. Will getting 2 smaller properties help make getting the bigger ones any easier. I stay in Phoenix AZ