Loans for rental properties?

[blahblahblah]

Hey, thanks for the tip, I will look into that. Those are some low prices for sure.

WRT termites the particular property I had noticed is a steel/concrete construction. I would never purchase any condo in a wood/stucco structure. Agreed that termite mitigation is much more easily dealt with in SFRs.

[HLS]

[quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.

[HLS]

[quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.

[HLS]

[quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.

[HLS]

[quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.

[HLS]

[quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.

[blahblahblah]

[quote=HLS][quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.[/quote]

Cheers man, no offense taken. You and I have more in common than different, it sounds like. I have come to the realization that the 401K deal is a scam to relieve middle-class people of their excess wealth, and there is no way that SS will pay us anything 30 years from now. Hence the search for alternate sources of income which will adjust with inflation over time.

I will look in some more zip codes and at some different property types as I continue saving.

[blahblahblah]

[quote=HLS][quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.[/quote]

Cheers man, no offense taken. You and I have more in common than different, it sounds like. I have come to the realization that the 401K deal is a scam to relieve middle-class people of their excess wealth, and there is no way that SS will pay us anything 30 years from now. Hence the search for alternate sources of income which will adjust with inflation over time.

I will look in some more zip codes and at some different property types as I continue saving.

[blahblahblah]

[quote=HLS][quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.[/quote]

Cheers man, no offense taken. You and I have more in common than different, it sounds like. I have come to the realization that the 401K deal is a scam to relieve middle-class people of their excess wealth, and there is no way that SS will pay us anything 30 years from now. Hence the search for alternate sources of income which will adjust with inflation over time.

I will look in some more zip codes and at some different property types as I continue saving.

[blahblahblah]

[quote=HLS][quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.[/quote]

Cheers man, no offense taken. You and I have more in common than different, it sounds like. I have come to the realization that the 401K deal is a scam to relieve middle-class people of their excess wealth, and there is no way that SS will pay us anything 30 years from now. Hence the search for alternate sources of income which will adjust with inflation over time.

I will look in some more zip codes and at some different property types as I continue saving.

[blahblahblah]

[quote=HLS][quote=CONCHO]I guess you two missed the part of my post in which I said that I would continue saving until I could afford to purchase one safely.[/quote]

Concho, I didn’t miss a word that you said. I have been a landlord for over 25 years and plan to be one forever. I am a huge believer in rental property. My comment wasn’t directed AT you.

I don’t believe in 401K’s and am not counting on Social Security. I don’t own any condos or deal with HOA’s and I own the dirt underneath my properties. Different strokes for different folks.

Explore the opportunities outside your backyard and make things happen. Don’t be stubborn and ignorant like many others with self imposed limiting factors. Enlarge your comfort zone.[/quote]

Cheers man, no offense taken. You and I have more in common than different, it sounds like. I have come to the realization that the 401K deal is a scam to relieve middle-class people of their excess wealth, and there is no way that SS will pay us anything 30 years from now. Hence the search for alternate sources of income which will adjust with inflation over time.

I will look in some more zip codes and at some different property types as I continue saving.

[HLS]

Suggestion:
Look out of state and get a good property manager for SFR or 2-4 unit properties.
The depreciation is much better than in CA and the cash flow can be too.
This method is not for everyybody, especially control freaks who want to drive by the property everyday, and be able to fix everything themselves.

It is amazing what can be bought for less than $99,000 in many areas.
At $99K, 25% down P&I payment is just over $400 a month for a REAL house, no HOA.
Add taxes/ins/maint and mgmt fee.
MANY houses are much less.

It’s easier to sleep at night if the property is vacant compared to $2K a month expenses.

I suppose it’s about the risk/reward potential.
There will ALWAYS be tenants to rent to at some price.

[HLS]

Suggestion:
Look out of state and get a good property manager for SFR or 2-4 unit properties.
The depreciation is much better than in CA and the cash flow can be too.
This method is not for everyybody, especially control freaks who want to drive by the property everyday, and be able to fix everything themselves.

It is amazing what can be bought for less than $99,000 in many areas.
At $99K, 25% down P&I payment is just over $400 a month for a REAL house, no HOA.
Add taxes/ins/maint and mgmt fee.
MANY houses are much less.

It’s easier to sleep at night if the property is vacant compared to $2K a month expenses.

I suppose it’s about the risk/reward potential.
There will ALWAYS be tenants to rent to at some price.

[HLS]

Suggestion:
Look out of state and get a good property manager for SFR or 2-4 unit properties.
The depreciation is much better than in CA and the cash flow can be too.
This method is not for everyybody, especially control freaks who want to drive by the property everyday, and be able to fix everything themselves.

It is amazing what can be bought for less than $99,000 in many areas.
At $99K, 25% down P&I payment is just over $400 a month for a REAL house, no HOA.
Add taxes/ins/maint and mgmt fee.
MANY houses are much less.

It’s easier to sleep at night if the property is vacant compared to $2K a month expenses.

I suppose it’s about the risk/reward potential.
There will ALWAYS be tenants to rent to at some price.

[HLS]

Suggestion:
Look out of state and get a good property manager for SFR or 2-4 unit properties.
The depreciation is much better than in CA and the cash flow can be too.
This method is not for everyybody, especially control freaks who want to drive by the property everyday, and be able to fix everything themselves.

It is amazing what can be bought for less than $99,000 in many areas.
At $99K, 25% down P&I payment is just over $400 a month for a REAL house, no HOA.
Add taxes/ins/maint and mgmt fee.
MANY houses are much less.

It’s easier to sleep at night if the property is vacant compared to $2K a month expenses.

I suppose it’s about the risk/reward potential.
There will ALWAYS be tenants to rent to at some price.

[Author]

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