You could probably purchase 7 or 8 houses with your savings depending on the lender.

Ive been learning about real about investing for about a year and a half now.I havnet been able to get started due to some family issues, and the fact that im not 18.But all thats worked out, and I'd like to start doing simultanious closings, then re-invest that money into savings until i can do a rehab without borrowing much money on it.So my question is, where else is good to look for properties that investors dont already have a hold of, considering its hard to do a simlultaious closing with yet another investor involved.So far i have:Newspaper classfiedsCraigslistLocal REI clubs and networkingDriving aroundCalling "we buy houses" or "houses for sale" signs.What else?

They used savings, HELOCs and everything they could get their hands on and ended up putting ten times their annual income into these properties.

I have about $30,000 cash right now in savings, and am wondering if I should go right now and begin buying another property to rent out, or if I should wait until I pay off my existing house in a year and a half.

With flipping, you can never stop unless you're able to save a BIG pile of money, which most people can't.Good Luck,Mike

If you're in the 28% tax bracket AND you're able to take this loss against other income, that will net you a grand total of $110 in tax savings on the other income.A key point, though, is that because of the depreciation deduction, your income from rental property is largely tax free.

Also, when I set it up I want to make sure it is taxed as a C-Corp, so that I will save more in taxes.I am also wondering if I will need a business license, I never hear anyone mention it.

I think that I will have about $50,000 in savings to mess with in the next few months if I stop paying extra toward the house.

I have enough saved right now for a 7% down payment but I have been saving $750 a month for my first purchase so that number will increase every month.

Didn’t a fireman save a kitten from a tree today?