Stud said:
what financial board are you posting this on as well?
The other board isn't public, so you couldn't get access anyway, unless you pay a membership fee. The benefit is, the members of the forum are all mature and experienced, and the forum is very well-kept. To prevent from spamming this board, please PM me if you would like the name of the forum and more info about the membership (by the way, I am in no way affiliated with the ownership of the other forum).
Skel said:
looking to buy my 2nd residential property
That's awesome. I am trying to buy the first property as an investment property, to rent out.
Docs said:
What will be your income. You must be able to tell me what it is.
My income is approximately $800-$850/month. As I mentioned before, my parents take care of my tuition/housing through June of this year. I pay for my own food, and I am also buying stuff for a weight-gain program (look for my next thread in Health/Fitness soon), and this accounts for no more than $300/month. So, I have approximately $500-$550 extra per month.
STR8UP said:
Read "From Credit Repair, to Credit Millionaire" by Donna Fox. One of the best books written for learning about credit.
Thanks for the book you mentioned. I will surely check it out.
At the moment my game plan is to apply for and acquire 4-5 credit cards. I am in the process of filling out 2 applications right now, and once my next pay stub is in, I will be done with them.
As for buying a home with money down or not, my situation may be somewhat different. I am looking to puchase beach front property in Mexico. You may think that is crazy, but I speculate that it could make for huge capital gains (in addition to my primary objective of renting it out). I have attended several presentations (unrelated to realestate, but rather on the topic of globalization, and economies in Latin America) and they have spoken of much positive economic activity in South America. South America is growing extremely fast, and Venezuala is now in a budget surplus. Not to sound too optimistic, or overly sold on this lead, but I have read a couple articles about a "super-port" that will be built in the next few years off the coast of Mexico. Mexico may soon be the next place to be for real estate investors. I have a relative who is realestate investor, now snatching up properties in Peru. So it's not so far-fetched.
Anyhow, I'll keep updating on how my credit cards and credit building go. In addition, pretty soon, I will begin investing in stocks to save money for a possible down payment; I'll update on that as well.
