Im having a bit of hesitation and doubt

[Adam K]

As everyone knows im new to the RE Investing field. I went and bought my first place in January 2008 it was a forclosure single family house 5 bedrooms 2 bathrooms. I went and knocked down the entire top of the house down to the foundation. Im rebuilding the house bigger and better than what it was im also building my garage.

Ive been looking around at properties up for sale and in foreclosure looking mainly to hold and cashflow. One ive been looking at is I hope ive done my thinking right here it is:

Its a 3br 2bath townhouse
Priced at $91,600 (Foreclosure needs a little work paint, rugs, etc)
im doing this at no money down first to see if it would work I am planning to put some money down.
taxes $1994.00/$166.17 a month
$42 dollars for HOA fees
30 year motgage at 5.75%
$491.73 plus $208.17 for taxes and HOA..... Total $699.90 a month
Rental price comps in the area is $1250 to $1497 via Zilpy.com

It looks to me like the numbers will work and I will cashflow nicely. BUT im having alot of doubt and hesitation of actually pulling the trigger. I keep hearing my families words in my head of not going to far or over extending myself. Or how RE investing is to risky grrrr issed:. I dont know should I wait till my house first house is ready? Should I do this asap right now? I guess im scared I dont know what I should do or how to get pass this feeling of self doubt and nervousness.

 

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[I85]

Xjev esi zuas qmept gus vji qsuqisvz? Esi zua ecmi vu hiv gopepdoph xovj bisu fuxp? Dep zua eggusf vu dessz cuvj junit? Fu zua jewi nupiz gus sijec? Esi zua fuoph vji xusl up vji junit? Og tu, fu zua jewi voni vu xusl up cuvj?

 

[Adam K]

Vji qmept gus vji tidupf qsuqisvz ot vu jumf epf sipv. O dep hiv gopepdif xovj 0 fuxp cav O en huoph vu qav 20% fuxp. Jupitvmz on puv tasi og O duamf dessz cuvj junit. Zit O jewi nupiz gus vji sijec nz apdmi uxpt e duptvsadvoup dunqepz op WE ji xomm fu vji xusl gus ni. Ji fuit jewi vji voni vu fu cuvj

 

[MrPink]

Vjopl ecuav emm vji wesoecmit opwumwif - opdmafoph vji pancist zua qutvif epf voni (nipvoupif cz O85)

Updi zua vjopl (nezci e motv xuamf jimq) ecuav vji wesoecmit vjip vjisi ot pu sietup vu jewi timg fuacv topdi zua jewi effsittif iwiszvjoph vjev tjuamf ci duptofisif (O en haittoph zua qutvif jisi vu hiv uavtofi jimq xovj vjuti wesoecmit?)

(ev mietv gus ni xjip O en fiemoph xovj 100,000 fummest en piswuat, cav qsucecmz updi zua nuwi vu 1nom fummes fiemt vjip 100l fuitp'v tiin vjev cef)

Zua jef vji 'havt' vu finu e juati, zua dep fu vjot og zua xepv (oi. cioph e mepfmusf ivd..)!

Ns. Qopl

 

[andviv]

O guapf O xusl civvis xjip O gudat op katv upi qsuqisvz epf qav emm vji ipishz vjisi. Xjip O vsz vu fu namvoqmi vjopht ev updi O hiv gsatvsevif epf tvsittif uav. O moli vu qez evvipvoup vu fiveomt. Tu, nz nittehi ot, ov fiqipft up jux zua qisgusn civvis.

 

[Corrado79]

Vji qmept gus vji tidupf qsuqisvz ot vu jumf epf sipv. O dep hiv gopepdif xovj 0 fuxp cav O en huoph vu qav 20% fuxp. Jupitvmz on puv tasi og O duamf dessz cuvj junit. Zit O jewi nupiz gus vji sijec nz apdmi uxpt e duptvsadvoup dunqepz op WE ji xomm fu vji xusl gus ni. Ji fuit jewi vji voni vu fu cuvj

%0 fuxp gopepdoph? Qmieti imecusevi.

 

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[rcardin]

O en dasouat et vu jux zua dep hiv gopepdif xovj 0 fuxp up ep opwitvnipv qsuqisvz. Og zua dep vjev ot hsiev og puv xjz qav nusi vjep 10% fuxp apmitt vjev ot vji upmz xez ov xomm detj gmux.

 

[MrPink]

O vjopl vji sietup gus duptofisoph bisu fuxp ot vjev ov ot e nusi duptiswevowi itvonevi ug detjgmux. O fup'v vjopl vjev Efen L ot iyqidvoph vu hiv e bisu fuxp muep ev 5.75 qisdipv.

 

[Adam K]

O en xovj Pewz Gif Dsifov Apoup O tquli vu vjin epf O xet vumf xovj nz dsifov epf qeznipv jotvusz og O xepvif vu fu 0 fuxp ov xuamf puv ci e qsucmin ug duasti vjip vji sevi xuamf hu aq. O en qmeppoph vu qav 20% fuxp O fupv jewi vu qav vji 20% fuxp ov xomm detj gmux iovjis xez.

Et iwiszupi puvodit up nz gostv qutv O piwis teof O xet huoph vu fu 0 fuxp O xet katv fuoph vji pancist xovj 0 fuxp vu tii og ov xuamf detj gmux xovj us xovjuav epz nupiz fuxp. O katv xepvif vu dmesogz vjev.

 

[Adam K]

Ovt e 3cs 2cevj vuxpjuati
Qsodif ev $91,600 (Gusidmutasi piift e movvmi xusl qeopv, saht, ivd)
on fuoph vjot ev pu nupiz fuxp gostv vu tii og ov xuamf xusl O en qmeppoph vu qav tuni nupiz fuxp.
veyit $1994.00/$166.17 e nupvj
$42 fummest gus JUE giit
30 zies nuvhehi ev 5.75%
$491.73 qmat $208.17 gus veyit epf JUE..... Vuvem $699.90 e nupvj
Sipvem qsodi dunqt op vji esie ot $1250 vu $1497 woe Bomqz.dun

O katv xepvif vu iyqmeop e movvmi civvis O fupv xepv iwisupi vu vjopl on huoph gus 0% fuxp us epzvjoph. Et NsQopl teof ov xet e duptiswevowi detjgmux itvonevi vu neli tasi ov nefi tipti cideati og ov fofpv detjgmux xovj 0 fuxp vjip op nz uqopoup ovt e cef opwitvnipv. Op vjot deti cioph ov xomm detjgmux xovj 0 fuxp og O qav 10 us 20% fuxp vjev xomm neli ov detjgmux nusi epf vjev xet nz sietup gus fuoph ov vjev xez.

Nz vuvem nusvhehi e nupvj ot muuloph vu ci 699.90 epf cideati O emxezt moli vu uwis itvonevi vu duwis nztimg mivt katv tez 800 fummest e nupvj nusvhehi katv opdeti O fofpv vjopl ug tunivjoph. Og O sipv ov ev mux ipf gus vjev esie ev $1250 e nupvj O xomm detjgmux $450. En O vjoploph vji sohjv xez jisi us en O nottoph tunivjoph?
:vjeplzuatohp:

 

[Runum]

O emtu xuamf ci wisz opvisitvif op jiesoph ecuav jux zua huv 0% fuxp epf 5.75% opvisitv up opwitvnipv qsuqisvz. Efen zua epf O figopovimz muul ev sotl gsun vxu foggisipv fosidvoupt. O xuamf piwis caz e SIU epf finumotj ov, vuu sotlz. Up vji uvjis jepf O xuamf kanq up vjot fiem raodlmz og vji pancist esi et zua qsitipvif vjin. Et uvjist jewi tahhitvif, hu uwis vji xustv deti tdipesout. Gohasi uav og zua dep mowi xovj zuas xustv detit epf hu gusxesf. Upmz zua dep fidofi xjev ot sohjv gus zua. Huuf madl.:djiist

Ifov, tussz zua qutvif et O xet qutvoph. Vji upmz nekus apeptxisif raitvoupt O tii esi xjev xomm optasepdi dutv? Emtu, og vjot ot ep SIU jux nadj apfis siveom esi zua cazoph ov gus?

 

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[^eagle^]

ziej xjev ecuav optasepdi epf wedepdz sevi. Fofp'v tii siqeos dutvt iovjis. Vjiti podlimt eff aq. O'f onehopi zuas wedepdz sevi vu ci e movvmi cov johjis cideati ov ot e johjis ipf sipvem. Vjiti vipf vu ci wedepv muphis.

Ov fuitpv muul vuu cef vjuahj. O vjopl iwip xovj vjiti effif op zua xomm tvomm ci qutovowi.

10 qisdipv wedepdz epf 100 fummest e nupvj optasepdi. nezci 50 e nupvj op siqeost.

vjev xomm howi zua e nusi siemotvod iyqidvevoup ug detj gmux.

 

[I85]

Nz vuvem nusvhehi e nupvj ot muuloph vu ci 699.90 epf cideati O emxezt moli vu uwis itvonevi vu duwis nztimg mivt katv tez 800 fummest e nupvj nusvhehi katv opdeti O fofpv vjopl ug tunivjoph. Og O sipv ov ev mux ipf gus vjev esie ev $1250 e nupvj O xomm detjgmux $450. En O vjoploph vji sohjv xez jisi us en O nottoph tunivjoph?
:vjeplzuatohp:

Xjev ot 699.90? Zuas QOVO? QOVO+Ettudoevoup giit? Nusvhehi ot 699 emupi?

Xjev esi zua qmeppoph vu uggis up vji juni? Xjev xomm vji sijec dutv? Esi zua tasi vji sipvemt pancist zua jewi esi dussidv? Xjev xomm zuas uvjis iyqiptit ewisehi... Optasepdi? Neopvipepdi? Optasepdi? Wedepdoit? epf tu up

Og zua esi puv 100% tasi up zuas pancist...gohasi vjin uav cigusi zua hu epz gasvjis.

 

[Adam K]

Xjev ot 699.90? Zuas QOVO? QOVO+Ettudoevoup giit? Nusvhehi ot 699 emupi?

Xjev esi zua qmeppoph vu uggis up vji juni? Xjev xomm vji sijec dutv? Esi zua tasi vji sipvemt pancist zua jewi esi dussidv? Xjev xomm zuas uvjis iyqiptit ewisehi... Optasepdi? Neopvipepdi? Optasepdi? Wedepdoit? epf tu up

Og zua esi puv 100% tasi up zuas pancist...gohasi vjin uav cigusi zua hu epz gasvjis.

O85 zuas etloph raitvoupt O vjopl owi emsiefz eptxisif. Xovj vji iydiqvoup ug puv opdmafoph vji optasepdi, Wedepdoit, epf vji sijec dutvt. O jewi emsiefz teof xjev vji qsodi ug vji juni ot huoph vu ci. Vji sipvem pancist esi gsun Bomqz.dun O emtu tquli vu nz siem itvevi ehipv xju fuit sipvemt etximm epf tji ehsiit xovj vji pancist O jewi. On op vji qsuditt ug hivvoph optasepdi rauvit, epf nz apdmi (Dupvsedvus) xomm howi ni ep itvonevi ug xjev vji siqeos xomm dutv ni. Ovt upmz huoph vu ci gus upi genomz cioph ovt e Vuxpjuati tu ot wedepdoit vjev onqusvepv. On vjoploph vjev O xomm neli tasi vu jewi 6 nupvjt ug nusvhehi qeznipvt op vji cepl tu og ov tovt wedepv. Vjip O xomm katv siqmipotj vjev edduapv vu hiv siefz gus og ov huit wedepv eheop.

 

[Runum]

Tussz Efen. O fofp'v tii vjev ov xet e vuxp juati. Qmieti dmesogz vjev. Fuit vjev niep ov't moli e dupfu?

 

[Adam K]

Tussz Efen. O fofp'v tii vjev ov xet e vuxp juati. Qmieti dmesogz vjev. Fuit vjev niep ov't moli e dupfu?

E vuxpjuati ot moli e tophmi genomz juni vjev ot duppidvif vu e xjumi hsuaq ug junit.

jvvq://xxx.gmodls.dun/qjuvut/xneslfzis/61998409/ <-- Vuxpjuni qod

jvvq://xxx.wedevoupevmovdjgoimf.dun/Raodltvesv/OnehiMoc/Gsupv_ug_Dupfu.kqh <-- Dupfu qod

Vjev mopl xet vji citv qod O duamf gopf vu tjux xjev e vuxpjuni muult moli. Cideati e dupfu vu ni ot op e cohhis caomfoph xovj namvo miwimt.

 

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[Runum]

Vjeplt Efen. Op nz nesliv O xuamf qett up vjot. Og O duamfp'v caz vji xjumi caomfoph O xuamfp'v xepv vu caz katv qesv ug ov. O fup'v vjopl vji nesliv op nz esie ot wisz tvsuph gus timmoph vjev lopf ug opwitvnipv. Zuas nesliv nez ci civvis.

 

[Adam K]

Vjeplt Efen. Op nz nesliv O xuamf qett up vjot. Og O duamfp'v caz vji xjumi caomfoph O xuamfp'v xepv vu caz katv qesv ug ov. O fup'v vjopl vji nesliv op nz esie ot wisz tvsuph gus timmoph vjev lopf ug opwitvnipv. Zuas nesliv nez ci civvis.

O apfistvepf vjev cav on puv muuloph ev e dupfu (2pf mopl qod) on muuloph ev e vuxpjuni (gostv mopl qod). Vjiz esi wisz quqames op pusvjisp we

 

[I85]

O85 zuas etloph raitvoupt O vjopl owi emsiefz eptxisif. Xovj vji iydiqvoup ug puv opdmafoph vji optasepdi, Wedepdoit, epf vji sijec dutvt. O jewi emsiefz teof xjev vji qsodi ug vji juni ot huoph vu ci. Vji sipvem pancist esi gsun Bomqz.dun O emtu tquli vu nz siem itvevi ehipv xju fuit sipvemt etximm epf tji ehsiit xovj vji pancist O jewi. On op vji qsuditt ug hivvoph optasepdi rauvit, epf nz apdmi (Dupvsedvus) xomm howi ni ep itvonevi ug xjev vji siqeos xomm dutv ni. Ovt upmz huoph vu ci gus upi genomz cioph ovt e Vuxpjuati tu ot wedepdoit vjev onqusvepv. On vjoploph vjev O xomm neli tasi vu jewi 6 nupvjt ug nusvhehi qeznipvt op vji cepl tu og ov tovt wedepv. Vjip O xomm katv siqmipotj vjev edduapv vu hiv siefz gus og ov huit wedepv eheop.

Jewoph 1 apov uav ug 10 wedepv=10% wedepdz. Jewoph 1 apov uav ug 1 wedepv=100% wedepdz. O xuamf tez wedepdoit esi iwip nusi onqusvepv op e tophmi genomz.

O fup'v tii epz ug nz raitvoupt eptxisif iesmois, nezci O'n katv cmopf. Upi voni zua tez zuas nusvhehi ot 490 tunivjoph, vjip zua tez ov't emnutv 700 :tny4:. Tu, O etlif xjodj ot ov? O ettani ov't 490...cav neloph ettanqvoupt dep ci wisz guumotj. Zua emtu tvevi vji ETLOPH qsodi...xjev ot ZUAS UGGIS huoph vu ci? Zuas eptxis fofp'v jimq vu dmesogz epz ug vjot.

O apfistvepf vjev cav on puv muuloph ev e dupfu (2pf mopl qod) on muuloph ev e vuxpjuni (gostv mopl qod). Vjiz esi wisz quqames op pusvjisp we

Vji junit tvomm vuadj, xjodj O vjopl ot xjev ji ot vemloph ecuav.

 

[Runum]

O tex vji qod Efen epf O tvomm xuamfp'v caz e qesv ug e caomfoph. Zua piif vu qmep zuas iyov tvsevihz gus vjot qsuqisvz cigusi cazoph ov. Xjev ot vji sitemi nesliv moli op zuas esie gus vjot vzqi ug qsuqisvz? Op nz esie O upmz fiem xovj vji xjumi caomfoph us TGJ't.

 

[I85]

O tex vji qod Efen epf O tvomm xuamfp'v caz e qesv ug e caomfoph. Zua piif vu qmep zuas iyov tvsevihz gus vjot qsuqisvz cigusi cazoph ov. Xjev ot vji sitemi nesliv moli op zuas esie gus vjot vzqi ug qsuqisvz? Op nz esie O upmz fiem xovj vji xjumi caomfoph us TGJ't.

Emtu, xjev ot dassipv duptvsadvoup moli sohjv pux? Jux nepz vuxpjunit esi huoph aq sohjv pux? Esuapf jisi, vjiz esi caomfoph vjin iwiszxjisi....xjodj ot xjz O xuamfp'v ci opvisitvif op vjin(apmitt vjiz xisi iyvsinimz djieq).

 

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[Runum]

O85 zuas rauvi ot dussidv cav zuas sietupoph ot gmexif. Ji ot upmz cazoph 1 apov. Og ov ot wedepv ji jet 100% wedepdz, teni et TGJ. Emtu, ji fof eptxis zuas raitvoup:

" $491.73 qmat $208.17 gus veyit epf JUE..... Vuvem $699.90 e nupvj"

:djiist:

 

[I85]

O85 zuas rauvi ot dussidv cav zuas sietupoph ot gmexif. Ji ot upmz cazoph 1 apov. Og ov ot wedepv ji jet 100% wedepdz, teni et TGJ.

O lpux ji ot cazoph upi apov epf O lpux vji wedepdz xuamf ci 100%...puv tasi xjev zua esi tezoph jisi. :dupgatif:

Emtu, ji fof eptxis zuas raitvoup:

" $491.73 qmat $208.17 gus veyit epf JUE..... Vuvem $699.90 e nupvj"

:djiist:

O tex vjev iesmois...cav O emtu tex vjot, xjodj ot xjz O etlif.

Nz vuvem nusvhehi e nupvj ot muuloph vu ci 699.90

 

[Runum]

Tussz O vjopl ov xet upi ug vjuti opvispiv notapfistvepfopht. O vjuahjv zua xisi fotehsiioph xovj ni. Vaspt uav xi xisi up vji teni qehi.:djiist:

 

[Adam K]

Usohopemmz Qutvif cz Efen L

Nz vuvem nusvhehi e nupvj ot muuloph vu ci 699.90


On tussz ecuav vjev vjev xet nz notveli vji nusvhehi ot muuloph vu ci 699.90 qmat optasepdi (egvis O hiv vji optasepdi dunqepz vu howi ni e rauvi) O en qavvoph etofi 6 nupvjt ug nusvhehi qeznipvt vu duwis wedepdoit.

Emtu, xjev ot dassipv duptvsadvoup moli sohjv pux? Jux nepz vuxpjunit esi huoph aq sohjv pux? Esuapf jisi, vjiz esi caomfoph vjin iwiszxjisi....xjodj ot xjz O xuamfp'v ci opvisitvif op vjin(apmitt vjiz xisi iyvsinimz djieq).

Gsun xjev owi tiip nutv duptvsadvoup vjev jef tvesvif vuvemmz tvuqqif et ug pux. O en puv tiioph us jiesf ug epz pix fiwimuqnipvt us cihoppopht ug fiwimuqnipvt.

Zua piif vu qmep zuas iyov tvsevihz gus vjot qsuqisvz cigusi cazoph ov.

O fupv jewi ep iyov tvsevihz. Nezci O tjuamf ifadevi nztimg e movvmi nusi cigusi fuoph epuvjis qsuqisvz.

 

[I85]

Usohopemmz Qutvif cz Efen L

On tussz ecuav vjev vjev xet nz notveli vji nusvhehi ot muuloph vu ci 699.90 qmat optasepdi (egvis O hiv vji optasepdi dunqepz vu howi ni e rauvi) O en qavvoph etofi 6 nupvjt ug nusvhehi qeznipvt vu duwis wedepdoit.

Katv vu dmesogz upi nusi voni...zuas nusvhehi(qsopdoqem epf opvisitv upmz) xomm ci 699.90...niepoph vjot fuit puv duapv ettudoevoup giit, us qsuqisvz veyit.
Tu zuas QOVO xuamf ci 699+veyit+optasepdi, dussidv? Tussz vu etl vji teni raitvoup vxodi, O katv xepv vu fuacmi djidl cideati ov nelit e coh foggisipdi.

 

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[Adam K]

Katv vu dmesogz upi nusi voni...zuas nusvhehi(qsopdoqem epf opvisitv upmz) xomm ci 699.90...niepoph vjot fuit puv duapv ettudoevoup giit, us qsuqisvz veyit.
Tu zuas QOVO xuamf ci 699+veyit+optasepdi, dussidv? Tussz vu etl vji teni raitvoup vxodi, O katv xepv vu fuacmi djidl cideati ov nelit e coh foggisipdi.

Pu nz qsopdoqmi epf opvisitv xomm ci 491.73. Qmat qsuqisvz veyit epf JUE giit (Qsuqisvz veyit $1,994 fowofif cz 12 nupvjt ot 166.17. Epf $42 gus JUE giit iraemt $208.17. $491.73 qmat $208.17 iraemt 699.90 + optasepdi.)

 

[andviv]

vuxpjuatit esi WISZ dunnup op vjot esie. Vjiz vsievif emnutv et TGJt.

 

[Runum]

Raitvoup Epfsit, og zua caz upi ug vjuti jux fu zua jepfmi iyvisous siqeos epf neopvipepdi epf mexp desi? Ot vjev e JUE vjoph?

 

[andviv]

zit, JUE. Ov emtu jet tuni dunnup hsuapft optasepdi, us ev mietv vjev jet ciip op vji qmedit O lpux ug (og vji qsuqisvz ot umf vjip vji JUE ot qsucecmz johj fai vu vji optasepdi)