The tenant pays the 300 in interest and contributes to paying down the note.

I look forward to learning, asking LOTS of questions, contributing to the forums and meeting like minded people along the way.Cheers :)

I have a better understanding on how to structure the next deal and am just brainstorming how to put this deal together the way the pro's(you and others that have contributed on BP) are suggesting.

We look forward to your contributions.

Good Day All, I just want to start off by saying I'm extremely happy to be a part of the Bigger Pockets community, and I'm very anxious to start interacting with the wide range of different investors that contribute so much knowledge to the site.

So the ambiguous part is we need to wire transfer money (our contribution to this LLC) to the bank directly in the name of the LLC, however the LLC hasn't been solidified yet.

A multi-family has less risk in the sense that if you lose a tenant you have a few more to contribute towards the expenses.

You want to try to not pay the big money and fly down until you have verified certain things.Some properties you can assume the loan in place with an equity contribution to the seller and loan assumption fee.

I know exactly what to recommend to newbie investors when it comes to stocks/bonds - keep it simple, contribute a lot and keep costs down.

IRA contributions are based on your personal taxable income.