If that tenant decides not to pay, the whole asset is jeopardized because you don't have enough reserves, AND there's no part of your mortgage or utilities covered when a tenant isn't paying rent. 

I bought a primary residence in October 2023 with the goal of living in it for a little bit and then selling it for a profit. I bought it for 60,000 and have it listed  for 100,000.  I have already moved out of it and...

I have a two part question for the attorneys in the room.1) Our lender required that my mother be listed on the LLC Operating Agreement at the time of purchase because she contributed funds for our down payment.

Here is a summary of the book.https://www.nateliason.com/notes/long-distance-real-estate-investing-david-greeneThe book also mentions the importance of having a rockstar Realtor, contractor, lender, and property manager.Let me know if you need assistance. 

For starters, tune in to the BiggerPockets podcast and connect with local lenders and brokers.

Meanwhile, my lender already paid the new $2,827 premium out of my escrow.

Apparently 95% of new multifamily construction is rentals now rather than condos due to arbitrary regulations by federal mortgage agencies and how those get intertwined with contractor defect laws https://www.minnpost.com/cityscape/2014/02/where-have-all-co..."

I have been looking into other sources of income and thought of getting my mortgage brokers license.I am well connected in my market and am still relatively young at 24 with lots of friends and peers that will be looking to purchase their first homes soon.

A lot of people don’t realize this, but in addition to real estate agents selling stuff, they are also being sold, every brokerage, every title company, even lenders, have courses on literally scripts, how to build out your social media, how to find fsbo listings etc, truth is none of these are effective, pretty much the only way to be a successful agent is either ton of ad spend or the hard work of meeting people in person through events meetups etc, but brokerages make money by head count, even title and lenders are happy if you close a few deals a year with them, so they sell this stuff to agents who than use those scripts on you, it’s a whole prymond scheme lol

It will take some work to find a lender who will lend on this type of property.