If you plan to resell, I think it's wise to discuss with seller in advance and that way the lien on the property can be transferred to second buyer, but you can continue to make payments at the former schedule etc.

Real estate is not the stock market and it's called buy & hold and not buy & sell for a reason.I did sell a few properties about 10 years ago when I learned the hard way that going into cheaper neighborhoods was not the right strategy for me, so that was basically a strategy correction and it was necessary, but also costly both in terms of dollars and time.

With the current mortgage rate constraints affecting how many buyers are willing to enter the market we are seeing a lot of borrowers have success with the BRRRR strategy with plans to sell in the next 3-5 years when interest rates go down.Researching potential LTR and STR rental amounts and seeing if holding for a few years is a viable option is a good analysis to do well. 

I saw it coming so I forced myself to learn REI strategies and to read this forums 2-3 times per week.

In short, having all the conversations and commitments in strategy, setting up LLC and all the fun docs of who's doing what, and I'd suggest even getting initial funding into account for at least EM. 

Hi @Javade Jones,That’s a great strategy!

In most of those cases, their broker took a high fee and the investor didn't end up with a great deal.Here are a couple of things that are a tipoff you are not working with a broker with your interests at heart (1) they want to pull your credit before having a conversation, or (2) they send you a long list of things you need to provide them before learning about you and your deal.The conversation should start with why you are interested in REI, then understanding your strategy to get there.

Don’t forget heloc, DSCR, 2nd on primary, borrow from retirement accounts, credit card cash advance, property reserves, home improvement store credit, etc etc.

Generally it's a mix between (a) spec builders, the type who specialize in doing in-fill lot's (b) investors, as it is a normalized flip strategy (c) owner occupants, especially in high desire neighborhoods, who are a-ok with taking on the project and even some are excited that they get to build a new home in often old neighborhoods. 

I enjoy hearing about peoples’ personal wins and innovative, creative strategies.