A new ADU will cost over 120k to build and will not be appraised close to that from my experience and many other investors I’ve spoken with.

Any kind of non QM financing will have higher closing costs compared to conventional.

@Bill Hampton Account Closed @Benjmin Weinhart @Sean O'Keefe  Thank you so much, the expenses are legitimate and I am only traveling due to the investments I want to purchase San Diego.

I was able to close on a townhouse near UMBC (close enough) with the help of an awesome real estate agent who reached out to me after I posted this. 

Yes the penalties are high, so if people think they might be selling when they renew their mortgage, they get an open rate mortgage that allows them to sell with less of a penalty than a closed rate mortgage. 

@Luke Tetreault I am new myself and working currently to get to that point, but what I intend to do at your point is to JV on deals or offer PML for high turnover deals (EMD/ Double close).

.👀2024 was only slightly better (by 100 closings) than 2023.Either way, this year and last year were the lowest homes sold since 2012 in Denver metro.

For example, you can buy properties in the low $100k range that are already cash-flow positive or close to break-even with good tenants in place.

Since you're so close to Loyola and not too far from Northwestern, I imagine you might have a pool of people who need temporary furnished housing while they study, do a medical rotation, or travel in the medical industry.

.- Background: Took some real estate classes before but really a lot of self learning on creative financing - Current Goal:To close my first wholesale deal within the next few months by learning from seasoned investors and applying proven strategies.I'm here to absorb as much knowledge as possible, so if you have any tips or resources, I’m all ears!