Quote from @MIchael McCUe: Money isn't easy to save and $10,000( my debts) is a ton of money I want to save for a downpayment, I'm just starting so I don't have any money I would like to save $60,000 to buy a rental property, I think I could do it in  5-6 years, my brother filed bankruptcy and they relieved him of $6000 in debt from cash money.a list of my debtGst Hst Tax 4500 income tax from working with my dad I oweScotiabank credit card 1400Canadian Tire credit card 500cash money loan 2400Belair 600echelon 600should I pay the 10k back in the next while or should I file bankruptcy like my brother as It won't be for years until I am able to get a downpayment for a rental house anyway.Here are the negative consequences, in regard to real estate, of filing bankruptcy1.

Yes the product might be Real Estate but the LP is just loaning money.  

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

Is this using a 20% down, conventional or DSCR loan, although I would think a first time investor would use a conventional loan.

A colleague recently closed on a 12-unit property in San Antonio and shared that a 6.8% cap rate, combined with lower property taxes, made it a no-brainer.

Last year one of our lenders would not lend to new customers or customers who have never did a commercial loan with them.  

If done right most of these gains are tax-free- $40K in equity capture (profit) with $20K out of pocket and 13% cash on cash thereafter (300%+ returns)- $24K of equity capture with $32K out of pocket and 36% cash on cash returns thereafter (75%+ returns)- $41K of equity capture with $27K out of pocket and 12% cash on cash returns thereafter (150%+ returns)None of the above numbers include loan pay-down or appreciation. 

So when the bank requires insurance for the loan amount.. that will work generally.. 

I’m not gonna pay someone an hours wage to tighten down a toilet bolt or literally snap a cap on bolts or change 3 light bulbs I could do all that in less than ten minutes combined.

Are you looking for better loan terms from the lender?