Hello all, one of the things i am wondering as I contemplate how to prepare to get involved in the real estate game is getting a mortgage for an investment property while i already have a hefty home mortgage. I live ...

The more I think about it seems like the way the market is going (less inventory, higher prices) it probably is better to start holding property, that was my end goal anyways, what do you guys think?

In South Fla it is impossible to get a contract when you are contingent on conventional- they throw it in the trash- forget it!!!

Realtors are great deal killers and since MLS inventory is very low in most places, they'll sell that house pretty quick if priced right.

They are not easy to put together while being in compliance.It's much easier to put together a conventional loan than any installment contract or L/O when you have a buyer who needs to address qualifiation issues for financing at a later date.

And Wendell to answer your question, residential just seems easier to get into, unless one of my mentors like one of the deals I can find for them and somehow structure the deals where i can become an equity partner in the property for my construction services...Carolina, the new mall is off of Balmoral ave, right across the street from the rose not convention center.

Riverside/San Bernardino/Inland Empire certainly has lots of available inventory, but I'm a little concerned with demand from investors in that area.

Very cool that you offered to answer questions...My question is this....If I want to buy a rental property for 100,000, conventional loan, I would need 20% down, how much extra do I need in my account after the 20,000 down for the lender to feel comfortable on average?

But maybe that's because I am unclear on what a 'rent ready' rehab entails vs a rehab to send to an end owner-occupant.Another thing I found out is that since I wouldn't be going in all cash on this, the project has to be on Fannie/Freddie's approved list for conventional financing or - obviously - I couldn't use conventional financing.

If they work with sellers than they have an inventory list of their own, and one of their properties may match up with one of your buyers.