re: Real Estate Investing......... New update pg 7

I am very close to the same situation as you. We are buying our 3rd property right now.

1st is my house at LSU. 4br/4ba bought freshman year and rented 2 rooms to cash flow mortgage. It's a break-even deal cash wise. But my brother and I live for free so it's a net positive of ~$1200/month. Will likely never sell. primary res. mortgage in my name

2nd was my grandfathers home. Brother, dad, and I bought it from the estate and put $10k into it. Rented for a year to cover mortgage payments. Even flow. Have a first right offer to the current tenant to buy for $25k below appraisal before we list it. She's got 15 days. If she accepts we should net $60 on the sale, if not and we list it we could get $75-90. primary res. mortgage in my bro's name.

We ran out of primary resident mortgages so we are stepping things up a notch.

3rd we are under contract for is 1 block from campus on Highland (good side). This is where we are getting formal. Just formed the LLC, and are under review for a line (looking like $800k) to start turning this into something real. We need to put about $50-100k into this one, but our purchase price would make you wet in this location. College Town/Highland Rd.