Purchase price: $240,000 Cash invested: $60,000 I purchased this duplex in distressed condition using owner financing for $240K and secured a $60K hard money loan for renovations.

Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.

States which DO NOT require licensing for originating or negotiating a loan secured by commercial real estate nor a loan secured by non owner occupied residential real estateALASKA ARKANSAS COLORADO CONNECTICUT DCDELAWARE FLORIDA GEORGIAHAWAIIIOWAINDIANAKANSAS KENTUCKY INDIANAKANSAS LOUISIANAMASSMARYLAND MAINEMISSOURI MISSISSIPPI MONTANANORTH CAROLINA NEBRASKANEW HAMPSHIRE NEW MEXICO OHIOOKLAHOMA PENNSYLVANIA RHODE ISLAND SOUTH CAROLINA TENNESSEE TEXAS WASHINGTON WISCONSINWEST VIRGINIAStates which DO NOT require licensing for originating or negotiating a loan secured by commercial real estate but DO require licensing for a loan secured by non owner occupied residential real estateIDAHO MINNESOTA OREGON UTAH VIRGINIA States that DO require licensing for both residential and commercial real estate loan origination and brokeringARIZONACALIFORNIAILLINOIS MICHIGANNEW YORK NORTH DAKOTA NEW JERSEY NEVADASOUTH DAKOTA

My investors acquire with cash as a routine investment strategy to secure properties quickly and eliminate competing buyers using financing.

As I’m nearing retirement, I just invested a similar amount in first trust deeds secured by real estate at 9.75%.

A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.

I currently work at Deloitte in Cyber Security.

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

If I secure renters and show a lease agreement and deposit can I get into lower interest rate mortgage?

Our names go on title and our loans have the real estate as collateral so they are “secured loans.”