Hi all i'm new to the community my name is Miguel and i'm looking forward to learn with all you guys about the beauty of real state. a little something about me, i'm 37 years old i'm a proud father of 2 boys and 1 girl, as well a beautiful wife, i love working out in the gym,running playing basketball and really anything that can improve my healthy life style. i work in the construction field doing office work, yeah yeah your typical 9-5 only mine is 6am to 5pm yes long hours and i'm tired of it. being doing it for 10 years and i believe there something better out in this world for me and that's one of the reasons i decide to give this community a try. i'm not that far behind on the real state me and my wife bought our first one and only home 9 years ago a multifamily home and we being leaving rent free. but now its getting old not knowing whats next and how to provide some freedom to spend more time with my family. i always like real state but never gave the proper effort to learn more about it and to stretch it to the max. so that's a little about me i'm sure i will meet a lot of awesome people here and i'm looking forward to it, anyone from new jersey i'm here if you like to go for a jog or grab a cup coffee.

If you don't have a lot to start with is it typical for them to ask you to come to closing with over $20k?

A typical option fee would be $100 for 7 days.  

That typically is investors.

Hotels typically have higher cap rates.

These things typically have a long history.

What is the typical rents for this type house?

Beware of State regulations for No Fault Evictions - - typically there are high relocation fees to the existing tenant.  

These are typically run down and need lots of work to bring back to rent ready.What are you looking for?  

I did notice that the post said most portfolio loans have a higher interest rate typically than what you'd get with a conventional lender, and that they are usually shorter in term or have a balloon payment.Based on my personal situation, I shouldn't have much of an issue getting conventional financing for the first few properties.