His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

Hi @Scott Weston,Hope you ended up following through with purchase.

I’m a first-timer, so bear with me if I sound a little clueless – I’m still figuring it all out.Here’s the scoop: I’m looking to purchase a long-term rental property within the $300-350k budget range.

Real estates makes money when you purchase the property.

Quote from @Olivia Armstrong: Hey all, My husband and I have been searching for a property purchase, one that temporary checks our boxes and also kickstarts our investing journey.

A couple of months ago, I purchased a property using a hard money loan for $115,000.

Other considerations are the lost costs to sell and re-purchase other properties.

Purchase price: $220,000 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with our partner Archie Raglin, successfully purchased a property on Outlook St, Mission, KS, for $220,000 on 12/30/2024.

But I haven't done anything through auctions yet, as I have not purchased through an auction up to this point. 

The total value (purchase price + improvements) must meet or exceed the relinquished property’s value to defer all taxes.