I used a hard money loan to purchase this off market deal.I rehabbed the upper two units within two and a half weeks and have a renter already lined up for one unit.

The most profitable option is Airbnb, the most passive is long-term room rentals, and a hybrid approach can balance both.

You can try " Two Old Bags and a Mop".

So, is it both $40,000 down and a $40,000 balloon?

Personally, I used a business credit card to fund a BRRRR deal, securing over $90K in credit with just an LLC and a solid credit score.There are many creative financing strategies available, so don’t let capital be a barrier.

Purchase price: $1,500,000 Cash invested: $35,000 4-Unit building in Wicker Park, Chicago. 3-unit front building with a duplex up and a back brick coach house.

For example I have an account for each property and a sub-account just for the security deposits for those properties.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

We require a photo ID and a working cell phone prior to stay, and their system blocks me giving my cell number to them so they can text a copy of their license to me.

For example, one client in Chicago wasn’t getting traction until we updated their listing with a twilight shot of their patio featuring string lights and a fire pit.