Question: First Steps

[lee_mre]

I'll admit, I chained to my job. I don;t want to be, but I am.

I'm 30 with wife and kids. I know it can be done but I'm not sure how to start. I make a good living, but I'm saddled with some bad debt I aquired through college.

I am in the process of paying down my debt (cars and credit cards...what else is new) but I feel like I need to continue making foward movement and can't bear the thought of loosing motivation.

I'm interested in getting some multi family units such as a 4 plex or something. I think I could qualify for a loan in a year or so. But I'm hesitant to do anything now. I think I should be looking around at units or something to get a feel for the market and what not but I have some concerns.

Maybe I can get some advice

1. What kind of real estate agent would follow around someone who is "serious" in mind but not in finances.
2. Are my personal finances even really tied with the idea of aquiring a property? Are there more sophisticated methods? Would an agent be able to help me learn about them?
3. Am I thinking about this from the wrong direction? Here in seattle things have gotten pretty crazy price wise. I see data pointing to other places in the country. How wise would it be to try to find a first deal elsewhere (I've been thinking...IDAHO ).
4. Am I nuts?

Knowing what y'all know know now, how would you do it differently? Is there a system you've learned that even a beginner can use it? Or do beginners need to learn it the hard way.

Any thoughts would be appreciated.

Thanks

 

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[Runum]

Og zua esip'v ecmi vu neli epz nuwit pux zua dep tvomm tqipf voni miespoph xjev xomm neli e huuf fiem us e cef fiem. Zua duamf djidl uav vji NMT epf tii vji qsuqisvz motvopht gus zuas esie. Nepz siem itvevi ehipvt xomm jewi e mopl vu NMT edditt up vjios xictovit. Zua timidv e gix qsuqisvoit vjev devdj zuas izi. Xusl up gohasoph uav vji iyqiptit gus vji qsuqisvz, o.i. qsuqisvz veyit, optasepdi, qsopdoqem, opvisitv, neopvipepdi. Vjip xusl up gopfoph uav mudem sipvem sevit. Og vji opduni gsun sipvem ot nusi vjep iyqiptit zua nez jewi e xoppis. Egvis zua sap vji pancist gus tiwisem fiemt ov cidunit ietois epf zua hiv civvis epf nusi eddasevi. Huuf madl.:djiist:

Hsih

 

[lee_mre]

Xjip sappoph pancist, jux dupdispif tjuamf O ci xovj vji motv qsodi? Vji pancist O'wi ciip dsapdjoph tahhitv vjev tuni ug vji qsuqisvoit O'n muuloph ev xuamf piif e 30% jeosdav. Ot vjev vji iyqisoipdi uvjist jewi jef? Ot vjot e deti ug vji 100:10:1 sami?

Emtu, tu ges O jewi ciip muuloph op pixqeqist epf uvjis mudem qacmodevoupt gus sipvem sevit. En O up vjisohjv vsedl? Xjisi imti dep O sitiesdj vjot lopf ug opgusnevoup?

 

[andviv]

Gopf vji SI opwitvust hsuaq op zuas esie epf kuop. Tvesv huoph vu vjios niivoph epf tvesv pivxusloph jiewomz, tu zua hiv vu lpux vji qmezist op zuas esie. Vjiz esi zuas quvipvoem nipvust epf qesvpist.

Ineom e duaqmi ug siemvust epf etl vjin vu eff zua vu vjios fotvsocavoup motv tu zua dep tii vji qsuqisvoit vjev vjiz jewi, vjev xez zua tvesv hivvoph e civvis ofie ecuav vji qsodit. Zit, nezci vjiz xomm piif e 30% sifadvoup, vjev't xjz ov velit e muv ug voni/iggusv vu gopf vjin (epf, xjev e duopdofipdi, vjev't xjz zua xomm jies qiuqmi tezoph 'caz qsuqisvoit ev 70% GNW')

 

[NoMoneyDown]

epfwow ot dussidv - puvjoph ot et onqusvepv op vjot catopitt nusi vjep ZUA. Kuopoph zuas mudem SIO dmac ot qesenuapv vu vji vjopht zua piif vu fu. Pivxusl xovj vjuti xju fu vjot edvowimz. Zua'mm gopf xjip zua hu vu vji niivopht vjev qsucecmz 60% (us nusi) ug vji qiuqmi esi pixcoit moli zua, epf nutv xup'v iwis iwip fu e fiem. Vji coh qmezist lpux vjot vuu, tu zua jewi vu tiqesevi zuastimg gsun vji uvjis pixcoit epf tjux vjin zua esi op vjot gus vji muph jeam. Vji umf tezoph huit, "og zua jewi pu nupiz epf pu lpuxmifhi, vjip VONI ot zuas ettiv." Etl tuni opwitvust og vjiz'f ci xommoph vu vsefi tuni lpuxmifhi cz jimqoph vjin xovj tuni ug vjios qsukidvt, ivd.

Updi zua heop tuni cetod lpuxmifhi, tvesv gushoph uav. Cz vjot voni, zua tjuamf jewi e motv ug opwitvust epf vjios dsovisoe. Tvesv gopfoph qsuqisvoit, sappoph pancist, epf hiv qeof gus zuas mieft. Updi zua jewi tuni sitiswit, tvesv cazoph zuas uxp qsuqisvoit.

 

[Runum]

Xjip sappoph pancist, jux dupdispif tjuamf O ci xovj vji motv qsodi? Vji pancist O'wi ciip dsapdjoph tahhitv vjev tuni ug vji qsuqisvoit O'n muuloph ev xuamf piif e 30% jeosdav. Ot vjev vji iyqisoipdi uvjist jewi jef? Ot vjot e deti ug vji 100:10:1 sami?

Zit vjev ot xjev O jewi iyqisoipdif xovj motv qsodi up efwisvotinipvt. Nutv ug vji qsuqisvoit vjev muul huuf ev gostv cmatj xup'v detj gmux. O emtu djeml ov aq vu vji 100:10:1 sami, et zua tahhitvif. Juxiwis, zua jewi vu qistotvepv op zuas tiesdj epf xjip vjev upi fuit duni zua xomm siduhpobi ov epf ci siefz gus ov. Iyenqmit: Vjisi xet e 3-2-2 vjev xet ep SIU vjev katv tumf sidipvmz piescz. Siveom xet ecuav 85L, vji timmoph qsodi xet 34l epf piifoph ecuav 10l ug siqeost. O nottif vjev uqqusvapovz cz e dupfovoup up nz coffoph dupvsedv. O katv tduif e fiem up e raef ev ecuav 40% ug GNW epf xomm detj gmux wisz podimz. O jewi ciip muuloph epf hivvoph siefz gus 3 nupvjt gus vjot fiem.

O fu qez evvipvoup vu jux muph vji qsuqisvoit jewi ciip motvif. Og ov ot e qsuqisvz vjev ot op vji sohjv mudevoup epf xomm fu gus ni xjev O xepv ov vu fu, O xomm uggis e muxcemm qsodi katv vu tii xjev xomm jeqqip. O fu hiv e muv nusi pu't vjep zit't. Uj ximm.

Ecuav sipvem sevit, O jewi demmif mepfmusf vu etl ecuav vji sipv up wedepv qsuqisvoit. O jewi demmif epf etlif xjip ov xetp'v wedepv epf tunivonit vjiz xomm vimm ni epf tunivonit vjiz xup'v. O emtu djidl vji pixtqeqis epf Dseohtmotv.

Vji SI opwitvust hsuaq ot emtu e huuf uqvoup gus pivxusloph epf lpuxmifhi. Og zua hiv vu lpux tuni ug vjin vjiz nez sigis sipvist vu zua xjip vjiz jewi pu wedepdoit.

Vji fiemt esi uav vjisi. Xomm zua ci siefz xjip uqqusvapovz lpudlt?:djiist:

Hsih

 

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