I purchase the land from a local jeweler who I tracked down at his business and asked he was interested in selling.

Learned a $60,000 lesson this way on my first house.

but, we only know what you posted.hope this helps

So they mainly reach out to motivated leads who’ve shown interest or fit their criteria.

Purchase price: $550,000 Cash invested: $145,000 Sale price: $915,000 This was a home run for a long term (5 years) buy & hold investment property (I specialize in this area). - Initial investment of $145K (DP+closing)- It had one tenant for 5 years and 3 months (no turnover), and the tenant paid off the mortgage and expenses in those 5 years.- I spent around $30K to do upgrades before selling.- Sold it for $915K after 5.5 years (received $442K at the closing)- Did 1031 exchange and bought 8 SFH in NE & AL worth of 1.6M (brings $4k/months income now) What made you interested in investing in this type of deal?

👋🏽Welcome to the biggerpockets forums, I see you are from Hammond, Indiana which is a great area to get familar with including other portions of NWI.

A HELOC offers flexibility and interest-only payments but can be risky with rate fluctuations.

Quote from @Aaron Rushton: Hello everyone!

To keep this simple, we can just say that this is the equivalent of adding 0.5% or 0.55% to the note rate.

Quote from @Melinda Vaughn: Hi Fiona!