Worst case, you might have to pay off the second loan to streamline the process.Your plan of using private money to take out the hard money loan and structuring seller financing for the rest could work, but just make sure you’re crystal clear on the terms with the seller, especially if he’s staying in the house.

This is an expense you want today, that will save you a ton of time, money, mistakes, frustrations later.

@Tyler HahnIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING. our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

@Elena FabriIn our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

That is the first big mistake all these gurus teach you.You are not looking for "distressed properties."

I definitely don't want to make a mistake on bad/incomplete data.

Best case scenario - it goes as originally planned, but at least you did your underwriting based on the worst case scenario2.

Seeking a mentor can speed up learning and reduce mistakes.

We're just regular people doing the best we can, and we sometimes make mistakes.3.