All Forum Posts by: Zach Medina

@Conn G. if the seller still has a mortgage is that still possible?

I'm currently renting a house for one year that has 4 bedrooms and rent of $2,300 per month. It could be raised to $2,600 per month. I've been managing the sourcing of the people in the bedrooms for the landlord.

The landlord wants to sell the property for $317,000. I applied for the mortgage but didn't qualify on my own (2 years of self-employment in another business).  I also don't have enough money for the downpayment.

How do I finance this and would be the best way to buy this house

Thanks!

 I'm starting out in real estate with $75,000. My goal is to build up enough real estate within 5 years to generate an income of $10,000/month (to retire). Does anyone have any suggestions on how to get started and what strategy I should use to get myself there? Is it even possible with that much starting capital?