This is obviously much better than $1,400 per month.On top of that, you will now get 2x the depreciation write-off so your taxes should go down.On top of that, you will now get 2x the appreciation when real estate price go up.On top of that, your tenants are helping you pay down the loan, initially at about $100/mo for both properties, which gradually gets better and better.On top of that, you now have more units so if one or two goes vacant, you have more renters covering the losses of the vacant units.If you want to keep these properties, I would do a cash-out refi and go buy more rental real estate.

This creates a negative initial position.

💼🤝How do you ensure strong communication in your partnerships?

These markets offer a great mix of affordability, strong rental demand, and steady appreciation.

While time consuming, I did learn a lot and was within $2,000 of my initial budget.

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

Initial beneficiary is the seller and the this can transfer to buyer at closing.  

For example, should we focus on acquiring one high-quality property in a strong market, or would it make more sense to spread the investment across multiple lower-cost units in emerging areas?

Could any of you guide me on what I should do initially to secure financing?

I am only doing turnkey properties so there won’t be much equity other than initial downpayment.