Later as you build up your reserves - you can start to increase the amount you contribute towards a property and still maintain a solid reserve amount.

Since we have not contributed to any wear and tear on the gate (vacant lot), is this legal?

.~ Words can't express the gratitude I feel to everyone who has contributed.

My wife and I max out our IRA contributions monthly, and we're considering real estate investing in order to put to work our excess savings.

Sellers can contribute no more than 4% of the purchase price for closing costs and prepaids?

If you're willing to buy good rentals, even if they're not where you would choose to live, and the move on after a year or two, you can repeatedly apply that strategy.If you're determined to buy rentals, contribute only enough to your 401k to get the company match and put the rest of what you would have contributed toward the next rental.Avoid the trap of thinking cash flow = rent - PITI.

With the LLC, I'd imagine he'd contribute as a member for the materials.

In reviewing my credit report, the main reason is that all of the new rental property loans are contributing to a higher overall balance for my revolving credit.Some points:- No late payments- Only 2 credit cards, with revolving credit and less than 30% used- No other debt besides the 2 credit cards, primary residence loan and 1-4 investment properties.How do you seasoned investors maintain a score higher than 720 and continue to conventionally finance properties?

That is my delima in a nut shell.Joel, I believe you have confused some things here.For contributions, you can contribute more to a 401k than an IRA plus you have borrowing provisions up to $50k in a 401k.

Their offers with FHA loans and two appraisals and contributing to buyer's closing costs aren't going to look so great next to a all cash offer with a 15 day close.