Purchase price: $72,000 Cash invested: $95,000 Sale price: $140,000 househack double What made you interested in investing in this type of deal?

A ground-up construction loan for a new investor on some vacant land would also be a no-go as you must be able to show successful exits (refinance or sale) from a few projects before that's an option.So, we need to be able to see funds in your account that can cover the down payment, closing costs, and some reserves left over that will allow you to start your rehab.• No entity to close in: Though an LLC/entity is not a must-have, it's a nice-to-have prior to seeking financing.

@Isadore NelsonAre you responsible for any transfer taxes upon sale?

With multifamily house hacking, you live in one unit and rent out the remaining units to tenants.Why Multifamily House Hacking WorksHere’s why house hacking with a multifamily property is such a powerful strategy:Rental Income Pays Your MortgageWhen you rent out multiple units, the rental income from your tenants can cover a significant portion—if not all—of your mortgage payment.

My goal is to scale up over the next few years and add another 10-20 doors.I ran across someone that is saying they are building quadplexes in the same town in Texas as my current rentals there, so I have some support system there.High level this is the idea on the deal:4 units constructed as 2 duplexes on one parcel.1250sqf 3/2/1 units$650k sale price, CME is $820k according to builder, will have a independent CME done if/as I move forward.Rent per unit is $1750 based on the other quad in the developmentBest guess at this point is about $16k/year cash flow at a 9.5% cap rate.Builder is a sister company of a established company in a related industry that has done "some" builds before but not a lot.

I hope you made it convenient for yourself.Your loan documents should (or better) contain a due-on-sale clause.

The due-on-sale clause technically allows the lender to call the loan due if you transfer to an LLC, but enforcement varies.

If the purchase price is 70% of the home's final sale price, what portion of the additional 30% is the $ spent on the flip and what portion is the average net gain?

I worked in sales before going full time in my rental property business- making 5k plus $120/mo could have been done in a regular job with less work than doing a BRRR SFR.Your family and your well being are too important to put on the back burner!

With all of the short sales popping up on the MLS I know I will be successful in finding and helping someone.