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10 January 2025 | 3 replies
Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes.
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21 January 2025 | 18 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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8 January 2025 | 10 replies
You are working a demanding corporate job but also want to build rentals on the side.
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9 January 2025 | 4 replies
Quote from @Jay Fayz: Hello everyone,I've recently been exploring real estate as a potential career path and I'm looking for advice on the best entry-level job to gain experience and knowledge.
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8 January 2025 | 8 replies
If you plan to resell, I think it's wise to discuss with seller in advance and that way the lien on the property can be transferred to second buyer, but you can continue to make payments at the former schedule etc.
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12 February 2025 | 32 replies
Great job @Garrett Brown!
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7 January 2025 | 11 replies
I hold a w-2 job currently and considering transitioning to holding some properties.
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10 January 2025 | 6 replies
I am also a licensed EMT, and would love to provide housing for travel nurses, contractors, etc. in that realm since I can relate to them in previous jobs that I've had.I'm looking to invest in these states preferably: Georgia (1st choice - preferably near or south of ATL or in/near Savannah), Alabama, South or North Carolina, and Florida.
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10 January 2025 | 4 replies
But as said above it is not an easy job and the salaries are not great working for someone else.
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22 January 2025 | 31 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.