How to Obtain a Private Mortgage due to Traditional Lender Denials-Guest Blog by Mr. Parker

       

Mr. Parker is a financial writer associated with the community of “Mortgagefit.com”. He has written more than 500 articles on loans, money-saving tips, foreclosure, mortgage, budgeting, bankruptcy, insurance and so on. He is also a Kindle publishing enthusiasts and associated with various forums and communities. 

Good Versus Bad Debt? I Don’t Care When Investing

Recently, I wrote about what I think is a common misconception, in that a long-term rental must meet the 2% rule to be a good investment.  I think another misconception is that all debt is bad, and must be avoided at all costs.  Many people will tell you stay away from debt at all costs, while others will say good debt is okay but stay away from bad debt.  Most people define bad debt as debt that uses depreciating assets or no assets as collateral.  Car loans, credit cards, student loans, retail goods like TVs, furniture, exercise equipment all would classify as bad debt.  My personal philosophy; I don’t care what is used as collateral, if I can use debt to invest and make  me a higher return than the debt costs me – I will.

Continue reading at Bigger Pockets…..

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A Challenge to New Real Estate Investors: 7 Steps You Can Start Taking Today

My last article discussed why I think the 2% rule is a bad rule of thumb for beginning investors.  In this article, I give newbies a few simple tips on how start taking action in their investing career.

The BiggerPockets forums are full of posts from new investors introducing themselves or asking questions.   Even though there are many new investors looking to get started buying properties, very few ever actually become successful investors.

Continue reading at Bigger Pockets………

Why the 2% Rule can get Beginning Investors into Trouble

The 2% rule has been discussed quite a bit on the forums and in blog posts.  Since I am a new blogger (I wrote my first article for Bigger Pockets last week on buying HUD homes), I figured it was okay for me to add another opinion on the 2% rule.  What peaked my interest was seeing a comment in one of the forum posts that said the 2% rule is great for beginning investors, because it helps keep them out of trouble. However- I think the 2% rule actually does a lot more harm that good with new investors.

Continue reading here at Bigger Pockets…….

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