Help with getting started... - Posted by Will

Posted by Ed Garcia on March 26, 2001 at 20:47:07:


Although you have shared your intentions, we don’t have any information to give any type of intelligent opinion. We don’t know the rental market in the area, and I guess we should assume that the house is going to have a positive cash flow.

I can tell you this. There is no reason if you have good credit? That you shouldn’t be able to do 100% financing, if that’s what you desire?

As a new investor, I would like to recommend for you to check out the How-To Articles on this site, I you will find it to be beneficial.

Ed Garcia

Help with getting started… - Posted by Will

Posted by Will on March 26, 2001 at 18:19:27:

Hi all. Really enjoying the room. Have been doing lots of study in REI the past month or two and want to get involved in a smart way. Here is a situation I have that I would really appreciate some help with…

I have a 3/2 home in Oregon, purchased for 148,500 four years ago, would sell at 165,000 now. Have 136,000 left on the mortgage. We are interested in relocating to another part of our city (reason has to do with schools, and recreation district boundaries…no serious issues). I thought that by renting my current home that I already have owner-occupant financing on, I could rent that home and invest in another for our occupancy. Would that get my REI career off the ground?

Are there better ideas on how I should go about this? Are there questions I am not thinking about? I am serious about REI and getting off to a good start. I appreciate your responses.

PS-Is obtaining your credit score for free available yet?