Then when the time comes I have money for down payments and mortgage payments.From what I have been seeing is instead of banking up that 200-300k taking about 5 years to get there, I can just soak up a bunch of knowledge and experience for a year or two and get money from the bank and rent out houses and flip them, which would save me from working my but off in sales just for that 60-100k job.I currently have 0 debt and about 2 years of credit history, 750 credit score, and 5k saved up at the moment, I had to pay for 2 years of college that sort of took most of the money I have been making.I have been reading articles online and such but my question is, what kind of books/podcasts should I be reading or listending to in order to broaden my horizon on REI and renting out RE?

I cringe when folks talk about "spiraling debt" and grandstand with "debt clocks."

Let's assume you can beat the odds on the 50% rule slightly and are able to see $1,100 a month before debt service.$1,100 - $1,335 = -$235 (negative cash flow)The 50% Rule isn't perfect for every property on any given year, but comes damn close over a long period of time.

However, I have taught thousands over the years (mostly in church) to better their lives by eliminating bad debt.My becoming a full time real estate investor was based more upon financial stewardship than finding a lot of real estate deals.

They will average your Net Income over the past 2 or 3 years and that would be how they determine your ratios (Debt to Income).

I've been reading books, listening to podcasts (Josh Dorkin does kinda look like Adam Levine's cousin), and watching youtube videos and HGTV to educate myself.I'm planning on being debt free by November, and that's when i'll start putting all that learning to good use, and after being a bit covert on BP, I'm convinced you all can help me get started and be better educated.Any advice on my continuing education would be greatly appreciated.Thanks!

Hopefully I can get a lease on our unit before we move out so the debt to income ratio starts to look better.We also thought about quit claiming the current one to the LLC I have with my dad for our other properties and refinancing it into his name so it would open my credit line back up.If we do that though, the banks might want him to have at least 20% equity.

Therefore, the elimination of the competition by imposing the owner-occupied rule.I doubt there is a way to convenience the owner to allow you to become a partner or part of the competition.

It only account for approximately what your expenses will end up being and therefor says you will have X amount left for debt service.

Hi Michael,You are getting the numbers turned around.If landlord does not pay utilities such as water etc. then you use 50% costs but if utility is paid go 60% costs.NOI is before debt service and NOT after.