Our team buys the properties and converts them and manages them so it has been a great learning experience seeing all three phases from taking down a project, renovating the building then managing the lease up.

So shift your expectations to most of the cash out and you'll be good and you'll actually start buying deals, versus people who wait for the perfect deal, spin their wheels for 6 months terminating contracts/analyzing hundreds of places, and then eventually burn out and give up. 

I've lost friends and family to substance abuse so it seemed like an opportunity to do some good and make money in the process.I negotiated a sweet deal, and was prepared to buy it myself, but a few of my clients expressed interest and I ended up helping two of them form a partnership.

You buy today so that you pay less than if you were buying when you retire and hopefully you make some money along the way.

Investment Info:Single-family residence buy & hold investment.

MattIRA buys a property for 100k and puts 30k to 40k into the property.

You'll still need enough income and DTI ratio to buy another property in a couple years even with this rental income.

@Jonathan S. you'll get burned if you buy real estate rentals and do not, "manage your manager".Even the BEST make mistakes and no one can catch every mistake.So, it takes a team effort between a PMC and an owner to make it work:)

May need a little rate buy down but in the long run it is much better to raise your rate 1% to 1.5% versus taking a Heoc rate above 8%.The whole point of taking cash out is its quick and you avoid having the associated risks that come with a Heloc.

Investment Info:Single-family residence buy & hold investment.