i have a few fsbo that i know i can get a hold of for at around 25,000 below fvm. now my question is im 20 have a score 710 problem is that i have my fair share of payments being that i just got out of college and i would like to pick up one of these places and lease option it out plan on trying to get 100%financed on a 5 yr arm …do you think this is a good way to get started ? any input we be apreciated or other ways to get the ball rolling…if additional info is needed just let me know to give me the best answer
thanks
Is it a good place? It depends on the value of the property and the strength of the rental market. $25000 below a market value of $100000 is a good deal. With a market value of $250000, it would be lousy. What is the vacancy factor in the neighborhood? Can you get a positive cash flow? Can you afford a negative cash flow? Are property values appreciating?
have a few fsbo that i know i can get a hold of for at around 25,000 below fvm. now my question is im 20 have a score 710 problem is that i have my fair share of payments being that i just got out of college
That is great that you are in your 20’s that is when I got started and that was the best choice ever.
Time is on your side
and i would like to pick up one of these places and lease option it out plan on trying to get 100%financed on a 5 yr arm …do you think this is a good way to get started ?
It is a way to get started. Each property each senerio may involve some varibility and it is way to get some loans.
you may beable to get 100% financing just need to be a little more creative and still accomplish what you want to do
any input we be apreciated or other ways to get the ball rolling…if additional info is needed just let me know to give me the best answer
thanks
Really just get started Finding investments and work with your team of advisors and GO