You will need to put some kind of down payment upfront.

Here’s a quick breakdown of our financials:Operational expenses (excluding mortgage): $33k (Jan-Dec 2024)Annual mortgage payments: $58kTotal needed to break even: $91k+Income earned this year: $80kClearly, we need to bridge a gap of about $11k just to cover our expenses, and I’m exploring options to increase profitability.

It was a bridge loan, 8.25% interest only payments for 12 months, 2 points.

2) Your credit score3) Purchase price and down payment amountI would recommend shopping rates with a few local mortgage brokers.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

I'm an investor and mortgage broker and have options for loans that go as low as $75,000 and down payments as low as 15%, which makes it easier to stay above $75,000.

Focus on cashflow and growth, earning money for more down payments on more properties.

My client bought a 22 unit building and used this strategy and walked out of closing with a check for $800k to perform the rest of the renovations, paid himself back his already expended rehab costs and his entire down payment.  

. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

Do they use a servicing company to make the payments directly to the , or do they make payments directly to the seller and hope they pass them on to the lender?