Q. I began building credit for a year now. I havent had done anything to compromise my credit. I have a permanent job, I'm working as a full-time nurse, so is my wife. What does it take to be able to borrow huge amount with low interest and flexible payments. I want to invest on rental property so i can use the rental payment to pay the loan partially or fully. my goal is to generate an income out of the property. thanks in advance for your response.
A. Starting slow and small will limit your risk. Buy a property to live in with a 30 year fixed. Live in it for a year and then rent it out. Then buy a second property, and you will be in a position to repeat the process in a year.
Where can I find info on getting started investing in rental properties?
Q. Mu husband and I want to buy a rental properties to get started in this business. I have read a few books. Where else can I find resources to learn more?
PS: do not point me to these real estate "gurus" sites, please.
PS: do not point me to these real estate "gurus" sites, please.
A. Try talking to a loan officer or a Broker of a realtors firm. If one of you beome a Realtor you can get on the BLM list and find cheap houses (before the public views) and you can buy them quick. I think if you just get a realtors lic. it would be so much easier for you to get what you want.
What can I do to become a better investor?
Q. I invest in rental properties, small businesses, stocks and commodities in Michigan, Italy and Egypt.
Every advice is appreciated.
Every advice is appreciated.
A. Sounds like you are way ahead of most of us already.
The best way to learn is from a book and good reference material.
There are some good reference websites
http://www.howthemarketworks.com./
http://stockmarket.makemoneyideas.in/
http://simulator.investopedia.com/home.a�
http://www.top10traders.com
http://investopedia.com (for finance terms and definitions)
http://investing.sitesled.com/
www.stockcharts.com
www.freestockcharts.com
http://www.fool.com/school/basics/basics�
http://beginnersinvest.about.com/library�
http://www.mysharetrading.com
http://help.yahoo.com/help/us/fin/
And there are some timeless and excellent books
"Which Is Better, Buy-and-Hold or Market Timing?"
"Do You Have What It Takes to Be a Market Timer
Kahn, Michael N.Tech. Anal. Plain & Simple
Kamich, Bruce M.How Technical Analysis Works
Lefevre, Edwin - Reminiscences of a Stock Operator
about Jesse Livermore
O'Neil, William J.How to Make Money in Stocks
Oz, TonyHow to Make Money From Wall Street
Rotella, Robert P.Elements of Successful Trading, The
Schwager, JackStock Market Wizards
Schwager, Jack D.New Market Wizards
Sperandeo, VictorTrader Vic-Methods of a Wall Street Master
Extraordinary Popular Delusions and the Madness of Crowds" by Charles Mackay
The Intelligent Investor, by Benjamin Graham
One Up on Wall Street, by Peter Lynch
Common Stocks, Uncommon Profits, by Philip A. Fisher
Stocks for the Long Run, by Jeremy Siegel
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
Trading for a Living, by Alexander Elder
From Riches to Rags, by I.C. Freeley
Millionaire Traders, Lein & Schlosberg
The best way to learn is from a book and good reference material.
There are some good reference websites
http://www.howthemarketworks.com./
http://stockmarket.makemoneyideas.in/
http://simulator.investopedia.com/home.a�
http://www.top10traders.com
http://investopedia.com (for finance terms and definitions)
http://investing.sitesled.com/
www.stockcharts.com
www.freestockcharts.com
http://www.fool.com/school/basics/basics�
http://beginnersinvest.about.com/library�
http://www.mysharetrading.com
http://help.yahoo.com/help/us/fin/
And there are some timeless and excellent books
"Which Is Better, Buy-and-Hold or Market Timing?"
"Do You Have What It Takes to Be a Market Timer
Kahn, Michael N.Tech. Anal. Plain & Simple
Kamich, Bruce M.How Technical Analysis Works
Lefevre, Edwin - Reminiscences of a Stock Operator
about Jesse Livermore
O'Neil, William J.How to Make Money in Stocks
Oz, TonyHow to Make Money From Wall Street
Rotella, Robert P.Elements of Successful Trading, The
Schwager, JackStock Market Wizards
Schwager, Jack D.New Market Wizards
Sperandeo, VictorTrader Vic-Methods of a Wall Street Master
Extraordinary Popular Delusions and the Madness of Crowds" by Charles Mackay
The Intelligent Investor, by Benjamin Graham
One Up on Wall Street, by Peter Lynch
Common Stocks, Uncommon Profits, by Philip A. Fisher
Stocks for the Long Run, by Jeremy Siegel
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered, by Gallea
Trading for a Living, by Alexander Elder
From Riches to Rags, by I.C. Freeley
Millionaire Traders, Lein & Schlosberg
Buying a single family home for $140K to rent. Considering low interest rates, should I finance or buy cash?
Q. I have the ability to pay all cash or take out a 15 year mortgage with 20% down at 3.75%.. My money is not earning much in the bank. The property will rent for about $1,000/month.
Are there any sites where calculations can be made to evaluate suitability of investing in rental property? Thank you.
Are there any sites where calculations can be made to evaluate suitability of investing in rental property? Thank you.
A. You will get the best interest rate if you can put 25% down on an investment property. So, I would at least consider that as a minimum number if you decide to finance.
It's tough to answer this question without knowing other factors such as how much other savings do you have. Do you own a home as your primary residence? Is that home paid off?
Assuming your primary residence is paid off, I would not pay 100% cash, but maybe putting 50% down, and taking out a 10 year mortgage instead of a 15 year. 10 year rates are as low as 3.375%. Have the renter payoff the rest of your home, and put the other money either as a down payment on another home or other investment options.
It's tough to answer this question without knowing other factors such as how much other savings do you have. Do you own a home as your primary residence? Is that home paid off?
Assuming your primary residence is paid off, I would not pay 100% cash, but maybe putting 50% down, and taking out a 10 year mortgage instead of a 15 year. 10 year rates are as low as 3.375%. Have the renter payoff the rest of your home, and put the other money either as a down payment on another home or other investment options.
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