My daughter recently purchased new construction in Forney.

Start learning, buying real estate in my 20's. 

How do you feel about a $700k purchase price with a non owner occupied 4plex DSCR loan 3yr prepayment penalty, 10yr interest only 30yr fixed after$560k loan amount (20% down)7.750 par rate with no costs. monthly payment $3,616.66Or pay $22,295 in closing costs and get a 6.375% Monthly payment of $2,975The monthly payment difference between the two is $641.66And when you take $22,295 in closing costs and divide it by $641.66 that will give you 34.5 months (2.89 yrs) to break even if my math is correctHow do you guys feel about taking a lil less than 3 years to break even on $22,295And the seller is giving me $15,500 in seller concessions thanks for the advice guys!!

My concern is my bank account doesn't show that currently (I do have the paystubs to back it up).

My wife and brother-in-law inherited their mother's house via a land trust and it was great in that it avoided probate.

But my rental is not generating any cash flow in fact I have to pay for tax and HOA out of my own pocket.  

So much so that I went back to my roots, Somalia, Mogadishu.

I encourage my staff not to ever give their personal numbers.

I just created an LLC for my new rental property.

One of my clients almost lost his chance at a claim because his originals were destroyed in the storm, but luckily, he had everything backed up.Hang in there, Joe!