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  1. scine

    Update On My Plan!

    REAL ESTATE 
    Vancouver, Washington. Right above the border at Portland, Or.
  2. scine

    Update On My Plan!

    REAL ESTATE 
    Latest update! I bought my rental at the end of 2011 for 110k. In my area, the housing market has exploded and it's now appraised at 176k as of a month ago. "good" real estate deals are snapped up in a matter of hours or days, the rest are disasters waiting for some sucker to buy. So, I...
  3. scine

    Lending Club for a down payment?

    REAL ESTATE 
    Oh that's a good idea! Thanks for the tip!
  4. scine

    Lending Club for a down payment?

    REAL ESTATE 
    Can you explain what you mean hold 20% at a reasonable rate for 3 years? What are the benefits of that? I've heard whispers here and there about creative financing, but I've always been a "get down payment, go to the bank for loan" kind of guy. I'd LOVE to be able to find other ways to figure...
  5. scine

    Lending Club for a down payment?

    REAL ESTATE 
    I'd be curious too. They do ask if it's a loan, but I'm not sure they can readily verify that? Or am I wrong?
  6. scine

    Lending Club for a down payment?

    REAL ESTATE 
    You're absolutely right. Most of the investors I've spoken with want to provide the money, get paid back, AND want a chunk of the rental income. There's simply no way I'm going to go down that road. If they want to loan the money and be paid back with interest, fine. Past that, in my eyes...
  7. scine

    Lending Club for a down payment?

    REAL ESTATE 
    Agreed. That was another concern of mine as well. I'm talking to a mortgage guy about all this, and he's seeing what he can come up with finance wise.
  8. scine

    Lending Club for a down payment?

    REAL ESTATE 
    Perfect! Thanks! I may have found a small condo for $40k that I might be able to pick up, and the terms are good. Numbers at the moment put me making around $200 a month profit after management, taxes, LC loan, etc. But, I need to investigate further before I take the plunge. Out of...
  9. scine

    Lending Club for a down payment?

    REAL ESTATE 
    Nice! What are your thoughts on a buy and keep situation though? My initial thought is that if it was a simple flip, it could work well. But my intention is to simply add to my existing rental portfolio. Thanks in advance! Travis
  10. scine

    Lending Club for a down payment?

    REAL ESTATE 
    Hey all! I have one rental under my belt, and I'm generating a decent profit (25k down + minor fixes. $250 profit a month), and I want to expand. So, I'm a wee greedy when it comes to things. If an investor wants to invest, and be paid back, that's fine, but most investors I've spoken with...
  11. scine

    Any Lending Club experiences?

    HOT! INVESTING 
    Not sure what his loan amount was, but Lending Club limits you to $35k for loans.
  12. scine

    How do all of you invest your money?

    HOT! INVESTING 
    Love the concept, but still quite the new guy in that area. Where would you suggest I look to educate myself on this? Or, would you happily take someone like me under your wing? :) Thanks!
  13. scine

    Any Lending Club experiences?

    HOT! INVESTING 
    Low end Lending Club user here: 31 notes, $800 total into it, making 10.87%. I put only a little bit of money into it in case it was too good to be true and it tanked. All of my notes are current, no defaults or lates. LOVE Lending Club!
  14. scine

    Update On My Plan!

    REAL ESTATE 
    Oh I totally agree. That's why I don't use the extra $250 a month towards the principle like the previous guy mentioned. Once I have a decent amount of savings, then I will likely roll that profit into getting another property, or paying down debt. :) Travis
  15. scine

    Update On My Plan!

    REAL ESTATE 
    Thanks! I figured if the guy is still paying in full and on time when his lease comes up in June again, I'll offer him the same offer. Another year, another year of no rent hikes. :)
  16. scine

    Update On My Plan!

    REAL ESTATE 
    Hey guys! Long time no speak! Well, the place that I bought about a year and a half ago got a renter in it after 2 months of being on the market. His credit wasn't the greatest, wasn't horrible, so I decided to take a chance on him. My management company has taken over everything and done an...
  17. scine

    Question About Second Rental

    REAL ESTATE 
    Hey all! Well, many of you remember me from my asking about rentals over the past few years, and I've got one solidly under my belt with a good tenant. Basics of the deal: $110,000 purchase price. Home was built in 2002, and is in GREAT shape. (Appraised in October at $139,000) $22,000...
  18. scine

    Well, I finally did it!

    REAL ESTATE 
    Thanks! I asked around here for advice and for war stories so I could get as clear of a picture as possible into what I was getting myself into. :) Luckily, I know people in real life that have done rentals as well, so they offered up advice as well. I spent a good 6 months doing nothing but...
  19. scine

    Well, I finally did it!

    REAL ESTATE 
    Hey guys! So after literally YEARS of trying to figure out what to do, I finally bought my first rental. 1,400sq ft., 3 bedroom, 2 bath, built in 2002. It was a short sale and I put my bid in in late April. I closed just before Halloween. They had it listed for $139k, and I ended up...
  20. scine

    Financing and owning many properties

    REAL ESTATE 
    Actually that helps me out very much. I haven't bought my first place yet, and am going through the normal channels to do so (bank, realtors, etc.) But just even with a minor search online for owner financed properties, it shows I could make a lot more money, have less out of pocket, and it...

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