Real estate is very cyclic, so it would be good for something to supplement your income in the lean times.good luck!

This Addendum to Purchase Contract is entered into and is effective as of ___/___/___ by and between Seller(s) and Buyer(s) (hereinafter referred to as “the Parties”) and shall be deemed to amend, modify and supplement that certain Contract dated ___/___/___ by and between Seller(s) and Buyer(s) (the “Purchase Contract”).NOW, THEREFORE, in consideration of the mutual benefits to be derived from this Short Sale Purchase Contract Addendum and of the representations, warranties, conditions and promises hereinafter acknowledged, Sellers and Buyers hereby agree as follows:1.

I have been and am researching to gain a stable foundation of REI knowledge, but I am eager to jump right in.My focus is to utilize real estate as a means of supplemental income and cash flow as well as to get a better understanding of the RE market and its business.My goals include: Paying off my current debts (mostly student loans) and saving money to fund future real estate purchases as well as other ventures.Good luck to all and I hope to share success with you in the near future.

My daughter roomed with a girl here @ a local college.Her father was a preacher & decided to buy a similar property to supplement his future retirement.

BiggerPockets newest book is about private lending, and in that supplemental materials area, there are copies of forms and worksheets to help you along the way.

@Steven Bialeckihey thanks for all of this info. i might be able to offer some suggestions. i know the HML i work with allows use of other funds like heloc, loans etc. he offers a loan on the side to supplement the down payment. let me know if you want more info.

I do not feel it is my responsibility to provide social welfare beyond what regulations dictate (note assuming RSO, the regulations have dictated that I supplement this 102 year old lady that is not family the difference between market rent and RSO rent which could be over $1K/month).I question how many of you would supplement a tenant over $1K a month at the cost of your child living in a worse (typically less safe) location as a result.Let the tenant's family or the government supplement the 102 year old tenant's living if they see fit.

If we can generate enough supplemental income to allow her to do so, we would both be happier and feel more secure.

If you can supplement or eliminate your housing expenses, that would have a much larger effect on your savings rate than an out of state duplex that maybe might cash flow $300-400 a month. 

I think it's important to use this as a supplement to prospecting and not as a singular source.