Searching for financial freedom i read "Rich Dad Poor Dad" by Robert Kiyosaki  and then stumbled upon investing in real estate  by watching a video on youtube.com by the "bearded one" (Brandon Turner.)

My goal in real estate is to gain my freedom - own my time 100% to do what I like daily and enjoy my life. 

Anyway, if he is a long term tenant and pays consistently that time each month then enjoy the consistency.

Frankly, I often find many virgins (been watching the bachelor too long with my wife) will purchase the first one as a primary residence, rehab it and then rent it out after a year or so.

The seller gets the benefit of enjoying interest payments, which will give them more of a profit than a regular sale.

Hey BP friends, I've been watching Austin's real estate for a while now and decided to dig into it deeper in NW corner of Austin and Round Rock/Cedar Park area.

3/5/2019Sherelle – thanks for the post / questions and outline Fyi – there are some conventional loan programs that allow a 3% down payment ….I would recommend using this program versus a fha loan program if possible …this is because with a FHA loan the monthly mortgage insurance remains with the loan permanently and with a conventional loan – you should be able to eliminate the mortgage insurance in the future ……Also – if you use a FHA loan for the first home - using a FHA again for next property might be an issue …..you allude to this in your question #2Regarding cash flow analysis ….other items to factor in : utilities / property homeowners insurance ( this will be a little higher when you live in home and should decrease a bit once you convert it to a rental policy / are there any deferred maintenance issues on the house ( roof / furnace / water heater / foundation are the bigger tickets items to watch Definitely get pre approved so you know for certain what you can afford and also so you can begin becoming more familiar with the numbers …we can assist with this if you want - contact us Thanks and I hope this helps Dave Skow 

You are going to be holding up your capital that could be deployed on easier projects for a lot of 'what ifs' in this process and from what I have heard, purchasing thru Auction.com has it's own perils you need to watch out for (not that I'm against using them for a home run deal).  

David,The important thing to watch out for is the RATE of foreclosure filings.

I've been watching the webinars and using the calculators on any and all deals I find.