Hi BP Community,I recently joined after discovering Real Estate Rookie podcast, and my partner and I are looking to invest in real estate in Maryland.

I just don't understand how a cash out refinance works and what the benefits would be for it as opposed to simply purchasing the home and renting it out without doing the reno and refinance part of it.

– Is it simply an apartment with a studio, or is it a designation that requires a formal process, such as registering as an artist?

Hey Austin, Before trying to wholesale, you have to fully understand what makes a property a good deal for an investor (flipper or holder) to be able to reverse-engineer the process and come up with your MAO.Network with flippers in your area and simply ask what they’re looking for in a flip.

We bought less in 2022 than ever before simply because the numbers did not work.

If you aren't comfortable providing the information, then simply tell the tenant you can't provide a reference....that also speaks volumes.

You can usually also benefit more by simply using the seller or builder credit to do a simple "Rate buydown".The first rate on the buydown is a "teaser" rate that only last for a short time 1 year for example but a true rate buy down is for the entire term. 

So simply with that fact, you won't be likely to prove someone had the intention of hiding a latent defect.Additionally, you did an inspection but didn't do a sewer scope.

Partner Driven discovered the McClain Mountain Rd deal through our partner, Erika Gilbert, who had direct connections in the Jasper area.

Also in your area that is a little rural if its well and septic makes sure those are checked by professionalsif it has city sewer make sure you do a sewer scope on the line running to the street.. and of course make sure roof is good etc etc.and for sure you can offer what you want to pay.. they may not accept it but its up to you.also ask title company to give you current owner.. and if you want simply make a back up offer in cases the wholesaler cant close this happens a lot and you get a better deal.