Any recommendation for the first steps I should take if I want to purchase my first rental property using the BRRRR method (or flipping).

Over the last year, I've developed a passion for real estate and want to be able to use it to generate income and secure financial freedom in the long run.

Probably going to be a check.Smart contractors are starting to understand that convenience matters to customers and being able to take different methods of payment can help them collect their money.

My experience with friends/some clients is get their numbers via whatever method you can and reach out via the phone.

The buyer may pay off the remaining balance at any time without penalty.2.Late Payment Penalty: A late payment fee of 5% of the overdue amount will apply if payments are more than 10 days late.3.Loan Security: The property will serve as collateral for the seller-financed loan.Hey @C.S.

It probably would have cost me about $10k more, but I would have still been able to secure the property.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

The expense tracker, reports and rental sheets (useful if you are planning to do the BRRRR method and need to calculate 2 different sets of loans).I used to have my own custom spreadsheets that I built but this one does everything mine did plus much more. 

But why would that make them want to use this financing method?

You must keep the tenants security deposit at a bank that physically operates a branch office in the State of NC.