I've been looking around and I've come to the conclusion that real estate is where I want to be due to the massive potential for passive income.Now, a little bit about myself: I am 22 years old living in Hoboken, NJ and I will be graduating with a BS in Comp Sci this may.

I've got a couple more stories out right now: Sci-Fi and Fantasy.If you prefer Fantasy, http://allegoryezine.com has reprinted "The Sphinx and Ernest Hemingway", which first appeared in Fantasy Magazine.If you prefer Sci-Fi, http://abyssandapex.com has published my hard sf story, "A Saturn Below".Okay, time to get back to Real Estate.Wade

:idea:I am not a mortgage expert by any means but I am fairly certain that you would have to purchase the property and then re-fi (I think you'd have to wait 6 months) to pull the equity out of the property.

@Karen F. I

@Mike MartinThe connection between the borrower and the business was that the borrower was re-fi-ing their personal residence, and owned another building in a different town that was rented to a business.

Semper Fi

About two years ago when I took the mortgage originator exam, the course/law mentioned Texas has a restriction for cash out re-fi cannot be within one year after purchase.

I'd like to stay in my area here which is Spartanburg County, SC. I

Looking to hold for about 5 yrs.Purchase price - $61,000 (Market value about $82,000)Initial investment - $4,000 (paint/ repairs/ appliances)Rent - $825/ month (based on recent comparable rentals)Taxes/ insurance - $133/ monthProperty Mgmt - $82.5/ monthPaying cash and will re-fi in 6 months.ThanksHemant

Originally posted by @Frank F.:... I