Purchase price: $150,000 Cash invested: $60,000 Rented it for $2195.

What we have learned is that most people avoid these properties entirely, which allows us to purchase them at a significant discount.

I purchased a PreREO deal from them about 4-5 months ago. 

However, I do know 2 investors who have purchased 70+ unit properties via seller outreach, but it takes time.

Platforms like BiggerPockets, local REI meetups, and Facebook groups can connect you with investors seeking opportunities.Joint Venture Partnerships: Consider partnering with a seasoned developer or investor who can provide the capital while you contribute your vision and operational effort.Hard Money Loans: If you’ve identified a property, some hard money lenders may fund the purchase and development based on the future value (ARV) of the project.Crowdfunding Platforms: Sites like Fundrise, Groundfloor, and RealtyMogul cater to real estate developments and could be a great way to gather capital.Seller Financing: If the land seller is open to it, negotiate terms to finance the purchase directly with them.2.

So I want purchase it as my first rental property it's going to need rennovations for sure not terrible shape just older rancher home.

If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

FHA loans require living in the home as your primary residence for 1 year after purchase.

Purchase price: $550,000 Cash invested: $450,000 6 unit multi-family BRRRR.

We're crunching numbers and planning to make purchases this year in the self-storage space.