I make 30$ an hour. could i get a 400,000$ mortgage and buy some properties to rent out (i have a 60,000$)? related questions

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I make 30$ an hour. could i get a 400,000$ mortgage and buy some properties to rent out (i have a 60,000$)?1adder_viper2012-08-08 06:17:04
I make $ 30 an hour. about $ 50,000 a year. I'm single with no children. I want more income, so I want to get a mortgage of $ 400,000 and buy 4 different investment units . (100,000 $ each ) of the properties I have been looking at the average income of the four apartment buildings would be about $ 40,000 a year and after all! heat, electricity , taxes on everything. I know that banks may not give me a loan of $ 400,000 for a house fly in just for me but where would the increase in my annual income of approximately $ 40,000 for the purchase of apartment buildings could get a mortgage ? and I have a payment of $ 60,000 down. (15 % of $ 400,000 ) and I know most of my earnings go to pay my mortgage, but with the extra income would definitely be able to make payment. I was looking at a mortgage calculator and a mortgage 10 years of $ 340,000 ( $ 400,000 - my initial payment of $ 60,000 ) to the interest rate of 7% would be $ 3.930 per month and my rental income would be $ 4000 a month , so we still have $ 7 profit . I can not see why I could not get the cause of the mortgage could certainly make the payments but I am not 100% sure so any info would help. thanks
Where To Find Rent To Own Properties?0Kourtney2012-08-06 19:18:02
I live in Presque Isle, Maine and live in a very bad road . Many of the drugs and fast cars driving . Although signs are posted speed limit people ignore . My children do not have a life and croissants to my dogs. We are renting this house and can not get a mortgage due to a new foreclosure in 2005 . Just lost the house because we had so many medical bills and not enough income . We were in the process of being sued cause they owed ​​so much in medical bills. We moved to Maine in 05 and I'm from Maine ... born and raised. It is difficult to find a bank to give us a loan for a house because of the recent fall with everyone losing their homes and people who just do not want to make thier mortgage payments . We are looking for rent to own properties in our area, but we are having luck. If anyone here lives up this way and know of any please let me know. I am also looking for answers of who to contact to find apartments to own property . Thanks for your help!
Can my housing assistance raise my rent &MAKE me pay for rent with a Personal student lone?1nino2012-08-25 08:17:19
Im school in. I have to borrow to pay additional school needs not covered other ex in. tuition: uniform lab jacket graphics s books Etc. calculators.supplies bags, but my rent is counting support this extra income . As in. as a grant . But school is a personal loan that has to be used for my studies and I have to pay . if you pay rent with that I will not have enough to get the things they need for school , which is the point that I'm taking . can do this . I am very low income and paying rent . Section 8 , I have a 2 year old son . the only income I have for me and my son is a check for $ 385 per month .
What's a job I can get that'll make $10 an hour working about 20 hrs a week?3gibbon2012-11-03 16:58:02
Hi! I wondered why some ideas were to make about $ 10 an hour working 20 hours a week , preferably in an online environment based or telecommuting ... Just some ideas to get going ... MedlinePlus My student loan payments will be due to start ( if I transfer to my dream school instead of finishing school so great that I'm not now ) , so I want to know what my options ... MedlinePlus MedlinePlus NO SURVEYS NO SCAMS MedlinePlus NO illegal things MedlinePlus MedlinePlus MedlinePlus ... MedlinePlus I have a job I can keep when school starts again , but I can start now ... MedlinePlus MedlinePlus My skills include almost all based on PC ( including some web design skills , etc ) and I am a very fast learner , so it can be trained almost anything ... MedlinePlus MedlinePlus I do not want to work in a position of such commissions based on sales ... MedlinePlus MedlinePlus I cubicles are cool and I like the organization and presentation of documents , lol (yes , I know, that makes me weird ) MedlinePlus MedlinePlus The types of industries I love to work in include : MedlinePlus MedlinePlus - Business MedlinePlus - Travel Agencies MedlinePlus - Video Game Design MedlinePlus - Web Design MedlinePlus - Art MedlinePlus - Fashion MedlinePlus etc , etc , etc. .. ( many more )
What jobs can I do that make $25 an hour or $52K a year in NY? (Read more)?0alli2012-11-06 03:04:28
I just came out of college. Nothing concrete is come my way. I applied to tons of jobs (50+) and they only places I heard call backs was from a Pet Store..... I live in NY. Have a sociology degree. I want a job that pays $25 an hour or $52 K salary. What jobs can I apply for, specifically, that can yield me this? I am currently living at home but my mom is going to retire and move to another state where she bought her home. I have literally 3 months till then. I also have student loans. I currently make money doing errands for people in my neighborhood and Manhattan but that's only paying me around 9 or dollars an hour. Some jobs that people know would help.I'm searching for a full-time job. And I'm a fast learner
For Real Estate Investors who fix up foreclosure properties to sell and make profit,?0Chick-Fool-a 2012-10-14 07:40:35
what is the average rate of return you look for in a deal? For example , if you buy a house whose value after repair is say 160k, and you buy it for 85k and 40k put in , for example closing costs are around 6k . Benefit be 29k . It is considered a decent return on investment for this type of situation? I'm seriously considering buying a property like this for the first time . I know I can get totally renovated in 45 days. Moreover, it is best to get a loan to buy a property like this or just pay cash ? Trying to reconstruct the ideas of investors with experience doing this . Thanks for your help in advance !
If I make $1100 a month, how much rent do you think I could afford?3cheza2012-10-08 00:10:03
I posted this question yesterday , but not in enough detail . MedlinePlus No car insurance payment , and not have to pay for food . I'm not going to school because I am tooo busy working and taking care of my 1 year old , so no student loans or anything I have to pay . MedlinePlus And the gas , I'm not really going to worry much , because everywhere I go is in a small town we live . MedlinePlus Any opinions appreciated.
I make about 33,000 a year. Will I be able to afford a $1000 in rent?5Ibi2012-11-03 01:01:02
I do not drive , so I do not have a car MedlinePlus I have about $ 12,000 in student loans to pay about $ 100 a month for now MedlinePlus and I'm mysellf MedlinePlus MedlinePlus Do you think that is feasible with an income of 33,000 ?
Should I rent and pay off my student loan or should I buy a house and make the minimum?15 grade2012-10-10 20:47:02
I am married MedlinePlus A child in the way MedlinePlus $ 40,000 in student loans MedlinePlus MedlinePlus income $ 60,000 MedlinePlus Should I rent and pay my student loan faster. Or would it be bad to buy a house and make a little more than my normal monthly payment on my student loan ?
I make $27,000/year Can I afford $625/month rent on a new apartment? Plus all its utilities?0Rm2012-09-25 21:16:05
So I just got a new job , my first job out of college and make $ 27,000 a year . What comes to about $ 550/week , but I will make $ 28,000 in two months. I found a one-bedroom apartment super close to where I work for $ 624/month . Utilities usually cost about $ 25.00/month because some are included in the rent , I have $ 200 a month in student loans . I'm thinking about $ 200 a month at the grocery store and $ 30 a month for my phone . Which brings me to: $ 1,079 per month in living costs. MedlinePlus MedlinePlus I am currently living at home, so do not pay rent or groceries but I have all my other bills and I'm spending about $ 450 a month in travel costs. Also I have an old car and wear displacement in time I will have to get a new one, which of course will come with a new monthly payment . MedlinePlus MedlinePlus I wonder if I can afford this apartment . Its very good and reasonable price for the size and location. But I do not think you can afford and get stuck in the hot water as the bills start piling up ! MedlinePlus MedlinePlus Thanks for your input :)
How much should I pay in rent/mortgage? (virginia beach)?0JayJay2012-10-05 13:42:38
I gross 37K a year , which translates to $ 1,246 every 15 and 30 . I have a car payment of $ 208 in gas costs me about $ 300 a month , $ 70 insurance , student loan of $ 65. Those are my insurance accounts . I'm looking to move into my own apartment for the first time (previously lived with a college boyfriend , but we broke , living with my rents , last two months while searching, but it has been hard ) . Anyway , still need money for public services , savings , if possible , food , misc . So with all these expenses and stuff what should I pay rent or logistical could afford or would be open to buying a home too, if that is even an option I do not know . Apparently , the income here ( Virginia Beach ) are so high and rents are cheap only in the city super bad .
I would like to buy a second townhouse to rent out how do I go about getting another mortgage loan?1fishbowl2012-09-01 06:52:02
I bought my first house 50k about 7 months with a VA loan . I would buy another house in the same building as mine to rent. Does anyone know a way for me to get a second mortgage to buy the property. I admire all online banks do not lend for investment properties. Currently my house is the note to pay 400 a month twice each month to pay faster . In addition there are still tenants in the homes of others who pay 650 for rent and I'm willing to put 20% with the new loan.

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