It just seems weird that someone would line up a deal with someone they don’t PERSONALLY know.

Is it acceptable to use personal credit line to fund a down payment on a single family rental on a conventional loan?

I would get a conventional mortgage and put 5% down, You'll still have PMI as a monthly cost but when you reach 20% equity you can usually refi or appraise out of it (ask a loan officer). bottom line is at 22 years old you have the capital to live for free essentially and benefit from home ownership. you certainly have more buying power than $100-$200k as previously stated. $400,000 list price would be $20k down pmt and you could have your closing costs covered using seller concessions.

." - so I wouldn't recommend Facebook if you're looking for deals RIGHT NOW.Sellers can be brought in through Facebook with seller ads too, just again, be aware that these are not usually motivated sellers.In conclusion - Facebook is great for getting a lot of leads at a fast pace, cheaply - which can be used to build your database and be placed on long term drip campaigns so that down the line (6, 12, 18 months) those leads from month 1 & 2 start converting.

hi guys, for the investors in Canada I noticed that the rental calculators do not consider 1) tax on rental income and 2) financing costs for HELOC (Home Equity Line of Credit) even if they are tax deductible ?

I guess the bottom line is always keep looking for deals and buying regardless of what the market does.

You should point this out to potential clients/investors/partners, your clients will be your top priority and you will crawl through mud, scale barbed wire fences, go behind enemy lines and do whatever it takes, if they work with you...it's part of the reason the larger well established brokers always have a stable of young agents, youthful enthusiasm!

Other than that there’s the possibility of taking out a home equity line of credit to help fund the deals - since it’s you and a partner maybe you could both do that to start out if you are not comfortable with HML to start.

If increasing it $100/month truly is in line with the market then you have a fair chance of them staying, but nothing's certain.

Do you have a deal lined up?