Both lots were 20k total or 10k each. 

The information contained in this post is not to be relied upon.

lima one does spec loansbuilders capital.they mainly rely on experince they want to see you have done 2 or 3 in the last few years.. 

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

To newer investors, they may rely on their agents to act as the Chief Investment Officer, effectively thinking the agent will bring them only perfect deals that meet their investment objectives.  

We have only ever bought residential sfr with conventional financing so commercial lending is totally new to us.

Relying on that logic is to rely on resulting.  

In the end, people rely on internet for all sorts of things and you want that to be reliable.

Hi John, I also rely on a property manager for the the fact that my properties are out of state. 

The information contained in this post is not to be relied upon.