Start by getting pre-approved with a VA/FHA lender and targeting a multi-family property where rental income covers most of your mortgage.Good luck!

I’m sharing my story so everyone can be aware and hopefully avoid the same experience.I received a call from one of my ads that targets probate clients.

Is there any way to basically “lock in” the target building, or is there always going to be a risk that you won’t be able to find the right building within the 1031 timeframe?

HUD targets average rents for an area, so just like average school grades, this typically translates to Class C property rents.In our Metro Detroit market, the MAJORITY of the claims about getting higher than market rents can be traced to a Class D Neighborhood/Property. 

It’s less than 15 minutes by car from two major universities (Towson & Morgan) and just a 7-minute walk from a shuttle that services both campuses.I plan to rent the property by the room, targeting mainly college students due to its proximity to the schools.

How many doors do you need to hit your target?  

Target Price: $575K-$585K; ARV: $625K+.

For instance, targeting multifamily properties (2–4 units) is a great way to grow your portfolio.

I personally target Lauderdale, Limestone, Morgan, and Madison Counties.

Acquisition Target: $730K-$780K; ARV: $900K; Repairs: $120K.