TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

This, in turn, allows for higher rental rates or quicker sales, directly impacting the ROI.I could remember when an investor purchased an old, three-story commercial building at  a bustling downtown area.

My goal is to purchase 15 units in the next 5 years, and produce a cash flow of $20k per month within the next 10 years.  

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

And we usually replaced windows/storm doors and HVAC systems within a year of purchasing older units, and this has helped as well.

Learn the area, meet other investors at meet-ups and one-on-one conversations, and once you feel more confident, you can make a purchase to live in. 

Yes quite a few of our 5,000 options have rate and term or purchase!

The ONLY reasonable deals are:Appliances when purchased if you have a retailer that offers unlimited repairs/replacement for 5 years for 10% of price.

I then found 3 properties from wholesalers in areas that I invest in regularly and purchased the properties with a hard money loan.

You can run one-off searches for phone numbers and email addresses, and they often have promos for new users.Spokeo for Professionals: While not specifically real estate-focused, it’s a reliable option for finding contact info for individual property owners, especially for one-off searches.Forewarn: This is great for verifying contact details and gives a bit more intel on leads.