I started listening to the podcast and reading real estate books about two months ago, and I’m excited to take my first step into real estate investing.I’m currently in Spokane, WA, and I’m pre-approved for a loan.

Conventional loan, 25% down at ~7% interest rate How did you add value to the deal?

If the interest rates go up to around 7% again do the numbers still work for the remainder of the loan? 

@Jerry Chilimidos I am not a CPA owever my understanding is any loans to your IRA can not be personally guaranteed.

Use Real Estate By the Numbers as your guide, make sure it tracks the loan pay down and depreciation and have all of those numbers pour into a Schedule E.

These properties typically turn over once a year as they are mostly student rentals. 

i wouldn't tell you where you should move since i don't know you.also, a lender would be in the best position to advise whether you qualify for a specific loan. 

Similar to what Patrick stated - most have ITINs and have seen a lot of loans like that and those are sold many times on secondary market. if not I know people who still originate I would say they are tougher to sell on secondary market but there are still buyersRe: jay comment - price of notes has doubled over past five years on many loans - especially defaulted or loans with some hair too them. 

They have close family in the area they invest, perhaps even living in the investment property itself like their child who is a college student and rents other rooms in the house to friends, or their sibling or parent.

.🔹 Creative Financing – Traditional loans don’t always work for distressed properties.