Newbie ? - Posted by Dave

Real Estate Investing
1

Posted by Gerald-DC on May 06, 2003 at 23:50:45:

Your wife is rightfully suspect of a plan that may impact your family’s finacial structure. You can buy investment property and make a nice return. However, being a landlord is not for the faint of heart. You should buy right, that is buy an investment property that cash flows at least $200.00 per month, have real equity after you purchase it and you must factor in repairs, taxes and the like.

You should also have sufficent cash reserves to cover situations if you should have to carry the property for a few months during vacincies,

There are many positive reasons to buy a rental and many reasons not to buy one. You should have researced the pro’s and con’s of each before you presented the proposal to your wife.

I would also add that you should check out the archives here, go to misterlandlord.com and attend some local investment clubs to get additional info.

Knowledge is Power but only if you use it.

2

Newbie ? - Posted by Dave

Posted by Dave on May 05, 2003 at 23:02:53:

With my lack of knowledge of purchasing homes, I’m having a hard time convincing my spouse that we would be able to buy an investment property to lease. She is telling me that we would not qualify for a second mortgage. How do lending institutions look at my qualifications if I have the intent to rent? I need to get her on the same page so that we can make this happen. Any ideas where to start?