Hi all, I am a new investor putting together my first REI deal! I am looking to purchase a small multifamily rental building in an area of Connecticut that has 85% of residential buildings being owned mostly by single...

You also get the benefit of being able to use an FHA loan or conventional loan with 3.5-5% down.

No worries on not doing a deal yet - just focus on marketing as your main task and it'll come before you know it.

I just read the main employer began steep layoffs because they are halting production until prices recover.

Yes, there are of benefits to the 529, much like there are benefits to IRAs and 401ks, but I trust you're finding here on BP that wealth can be, and is, amassed more quickly when you take control of things.

If we decide to make an offer, is it possible to either 1.) make the sellers put the full price of repairs in escrow (even though the other unit holders will benefit from the improvement); or 2.) make the offer contingent upon the condo association putting a certain dollar amount in escrow to handle the repairs; or 3.) do a combination of 1 and 2 saying that if all of the owners don't put a certain dollar amount in escrow by a certain date then the sellers pay the full amount of forfeit the deal?

I did buy in Detroit 10 years ago for $16,000 Now worth $500,000.00 My nextdoor neighbor (house 2400 sq ft) sold 3 weeks ago for $339,900Mine is 4987 sq ftI always posted I was in Detroit for the appreciation the cash flow was added benefit!

As far as I can tell, the benefits with the 30 year are:Interest is deductibleDue to inflation, the cash that Im using to pay the monthly payment in 20 years won't have the same buying power as the monthly payment does today.  

The benefit is that the payments are taken from your check pre tax which helps and you pay yourself the interest rather than the escrow company.

What do you mainly deal with mulit's, single family's, or are you into commercial deals?