I've got a lot of friends that have been RE investors for years who constantly tell me; "I would never do what you do".I hope you have considered all sides of this deal.all cashim getting 10% downi offered 9.5%10k above market in a very slow sellers market in my areaIt was going to be a lease option...He would pay 850/mo for 5 yrs and then there would be the option to buy--the house will be sold for 100k w/10k down

Been a mechanic for 20 yrs and enjoy nascar, football and bowling.Thanks for the forumLefty

I want to preface this by saying I am 21 yrs old I have worked a ton of jobs in my life and I want to be my own boss.

It's 15 yrs old and well kept.

There probably are products out there that are interest only but most require 20% cash down 15-20 yrs.

that would certainly be better i think. put your entire mortgage payment into your mutual fund that pays you interest only loan and the rest of your previous mortgage goes towards an avg. 12-14% stock market fund. therefore in 30 yrs you'll end up with enough money to pay off the house and a WHOLE lot more!

looked at property today that was described in my previous thread...terrible, crooked floors...no hardwood...no parking...needs more than a clean up...actually looked a 3 today...and found another more expensive 270K asking price 3 decker...this one is move in condition in B maybe B+ shape...my cash flow estimates are around 1700 for this property...has everything that i need for investment (deleaded, parking, 2 car garage, 3 bedrooms, good n'hood)...this one sold 2 yrs ago for 480K (unreal)and my location is boston...the city is north of boston

I am 20 Yrs old.....

I had a 2 family for 15 years, sold it about 7 yrs ago.

I am 24 yrs old from Knoxville,TN and graduated a couple years ago with a Bachelors of Science in Business Administration.