Purchase price: $275,000 Cash invested: $129,000 20-unit hotel, was abandoned and had sat on the market for 3 years.

This allows you to purchase a place at 5% down and renovate as you need to.

The primary thing you're going to run into is whether or not a lender, at purchase of the property, will allow there to be a secondary lien on the property.

I recently had a client purchase a duplex in Forest Park here in the western suburbs with this exact plan in mind.

Thank you so much for taking the time to respond.Here’s where I’m at in my journey:I don’t plan to rush into purchasing my first property.

In 2016, we returned to KC and purchased our primary home in Liberty using a Doctor’s loan.In 2020, we developed a strong interest in real estate investing.

Last year, I purchased a SFH under market at 7.65% interest rate and did some rehab to up the value.

Our plan is to purchase again with a better mindset of turning that into a profitable rental.We have diligently completed all the necessary steps and are on the verge of signing a management agreement with a property manager.However, we are experiencing some doubts.  1.

The first purchases are likely going to be California, Montana, and Texas.

Was that purchase money, rate and term refi, or cash out refi?