Do you enjoy your career? What do you do?

[dsandlin]

sure its a loan so you have to pay it back but use rental money to cover the cost. Are you paying for it sure through loss on rental money to cover the loan but besides that the money is in your account and not killing you the way you would if you made 100 grand a year and needed to be taxed locally and govt. Main point is you have a ton more money in your account and alot less in the govt's

[spacechimp]

sure its a loan so you have to pay it back but use rental money to cover the cost. Are you paying for it sure through loss on rental money to cover the loan

that's a pretty good idea..I don't have any rentals, in the Future hopefully

[dsandlin]

the houses i buy i usually get for around 10 to 15K sometimes up to 25K the rents are on average 500 per month single and 750 to 900 duplex. You know how much even a loan with 9% would cost. Now the actual retail value of the homes are alot more than this so i pay 15 grand, rent out the house for lets say 500 then get a loan for 60 or 70K and the renter pays for the entire mortage or heloc. Now you have cash to pay yourself back for the original 15 or go ahead and buy 4 more and do the same. once you do enough you will be getting into commercial loans but either way it turns out the same with you having a ton of cash on hand for purchasing houses, cars, rehabbing a few flips. always having someone else pay for your mortgages is the way to go and allows you to grow quickly.

[spacechimp]

the houses i buy i usually get for around 10 to 15K sometimes up to 25K

i don't have THat puzzle piece  :D

[dsandlin]

lol, its one of those tricky ones you try to shove into the space its not meant to be in

[johnniemac]

Your thinking is correct but learn first and use residential until you know what you are doing. There is inherently less risk and you don't need as much money down in general.