The variable interest rates bother me, but the balloon payments sound like a recipe for disaster.

This also means that with a larger down payment, the monthly debt service is less, thus increasing cash flow.

Instead of spending 20k for a random seminar, use the money for your first down payment on a property.Need motivation? 

therefore the purchase price at the Tax sale already includes the required payment to Revenue. 

If the deal has other deferred maintenance or if I plan on doing renovations (interior renovations or replacing a big ticket item within the first 24 month), I account for that in my down payment when underwriting.Also, I agree with Omar when it comes to audiobooks.

Don't be late on any more payments going forward.Start attending all of your local REIA meetings.

@Kenny Szymanski I would wait until closing or ask the loan officer if your income would support the new payment. . 

I noticed that we also have to choose what our down payment percentage is (which I put in 5%), so I wasn't sure if the way I'm doing it is including the 5% down payment in both sectionsThanks for any and all advice!

Purchase price: $155,600 Cash invested: $15,000 (down payment and closing costs) + $5,000 (repairs, fencing, etc.)House hacking

Veterans VideoVeterans buy a home with NO down payment.