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5 July 2018 | 6 replies
I came to USA in 2014 with just $400 and joined a 2 year Master's in Computer Science Program in NJIT,i completed this in just 10 months.While doing masters i started reading books related to financial freedom.My first book Rich Dad Poor Dad as most of the people's beginners guide.i moved to florida in 09/29/ 2016 and i closed my first property in 09/29/ 2017 which leads to financial security which means total expenses=total passive income.I am closing second one 5/7/2018 which will bring in extra 800 in passive income.About Properties: First is Condominium for 120000 , 3 bd 2 bath, i do AirBnB in one room, stay in one and rent the other to my friend.This will bring in 400-750 in passive income.Second one is near Downtown Orlando for 230000, which is worth 265000 as per appraisal. i will be renting the rooms as this property is having 3 Bd 2 Ba and 1 Studio Apartment which will bring me from 600-1000 in passive.My Goal is to reach 10000 in passive income, Please guide me how to reach this destination as many of you reached.i am improving myself and these are the action list1) Reading books related to Real Estate (One house at a time, Buy houses with No Money Down by Brandon Turner, Millionaire Next Door.2) This Discussion to reach as many amazing people and achievers as possible.My Questions1) How to buy next homes ?
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2 July 2018 | 1 reply
After many podcasts and books (Rich Dad Poor Dad, Richest Man in Babylon, Set For Life, Book on Managing Rental Properties, Millionaire Real Estate Investor, 4 Hour Work Week and a few more) I went ahead with the heloc and started looking for my first true investment property.
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4 July 2018 | 6 replies
I hope this isn’t a dumb question, but when comparing rates and terms for HELOCs from different banks, is it possible to provide my income/current expenses/credit score or SSN to run a credit check and estimated home value to different banks and get a good faith estimate of what the rate would be without having to apply first, since, from what I understand, I can’t apply at more than one bank at a time because it would be considered mortgage fraud.
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2 July 2018 | 1 reply
I have a house which I bought on a line of credit (low interest rate, but tied to LIBOR).
5 July 2018 | 4 replies
I have thought about wholesaling but it seems like it would be tough to stay persistent with since I have a full time job.I have the credit to get approved for a loan but seemingly not enough cash for a down payment or to fund any rehab projects.I appreciate the help.Thanks,Daniel
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2 July 2018 | 4 replies
If you're planning on flipping it and have good credit, go and apply to a number of credit cards that have high start up limits.
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2 July 2018 | 5 replies
If the debt is more expensive then your return (think credit card loans) then pay that down first...
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19 March 2019 | 22 replies
FYI appraisal cost in this situation at NFCU is $495.Questions for my fellow BPers... 1- do you know of any banks/credit unions that will lend when secured with a LLC and/or Trust Titled property?
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14 July 2018 | 17 replies
Don't forget about credit unions!
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6 July 2018 | 5 replies
There are good investor friendly lenders here that offer creative products ranging from construction loans, non-recourse loans, and commercial lines of credit.