how i got into real estate :
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Okay the first thing i did was check my eligibility for a mortgage I was going to put a $5000 down for a $66,000 mortgage loan found out I was eligible and got a mortgage and purchased a small house that needed some work for around 66,000
I added some fix ups to the house to make it more wanted/habitable
I started renting the house and the money I got for the rent was used to pay off the mortgage and the leftover profit after that payment 40% was saved for the next mortgage which didn't take long about a year to get the cash together I then decided I wanted more houses so I refinanced my own house for an £80,000 mortgage loan to put down on 2 properties valued at 300,000.
I am renting 4 properties making 6,350 per month in rent payments I pay the mortgage payments with this monthly income and anything left is profit but 40% is always reinvested 60% is to pocket after payments for the houses are made
I intend on buying another property this year closer to my birthday and again turning it into a rental yet again.
If you can get into real estate that's where the real money is.
I added some fix ups to the house to make it more wanted/habitable
I started renting the house and the money I got for the rent was used to pay off the mortgage and the leftover profit after that payment 40% was saved for the next mortgage which didn't take long about a year to get the cash together I then decided I wanted more houses so I refinanced my own house for an £80,000 mortgage loan to put down on 2 properties valued at 300,000.
I am renting 4 properties making 6,350 per month in rent payments I pay the mortgage payments with this monthly income and anything left is profit but 40% is always reinvested 60% is to pocket after payments for the houses are made
I intend on buying another property this year closer to my birthday and again turning it into a rental yet again.
If you can get into real estate that's where the real money is.
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