Consult with an attorney to provide a purchase and sale agreement in your respective state with an assignment exhibit included. 

Great questions - a lot of our borrowers will tap the equity using a refinance in order to purchase their next investment property.Feel free to give me a shout anytime, happy to help!

Purchase price: $160,000 Sale price: $170,000 Contributors: Peter Vekselman Partner Driven and Jamari Sprueil secured this Dover Ct property in Riverdale, GA, for $160,000 and successfully sold it for $170,000 on the same day.

Narrow focus - I know the zip codes I wanted to purchase well.

Quote from @Dylan Webb: Hello, here's my situation:My wife and I own several properties separately.2 of the single family homes combined we have conservatively $150,000 in equity ($90,000, $60,000) I want to use one of these as collateral for a small loan of $30,000 to put down on a high cash flowing property OR have a lender finance the whole venture at a purchase price of $160,000.

So if yo had $70k of initial purchase debt, for example spent $100k on renovations- and now you get a loan for $200k....$100k can potentially be deducted as replacement debt. 

What's the purchase price? 

Reno Scenerio Off Market Purchase Price - $185k ARV = $315-335kReno - $55-65kHolding - $10kClosing both ends - $25k= $335 , $315-$285 =$30-50k gain  As-IS Scenario Purchase - $185kSale Price on MLS :$225- $235kClosing both ends - $20kHolding - $4k= $235 - $209 =$16-$26k gainIn both scenerios I’ll be 1031ing it into a new investment.

We have some capital and are looking to possibly purchase a small hotel.

Gain is your net sales price minus your adjusted cost basis (purchase price plus capital improvements minus depreciation).