We may learn about a market's economic variety and its ability to weather downturns by looking at how it did over a previous real estate cycle, which usually lasts a decade or more.

They base their decision largely on "the deal" and your ability to execute the plan.

An FHA mortgage contingency gives you some outs and ability to negotiate and even back out of the agreement. 

Consult a mortgage broker to navigate the financing process and provide personalized advice based on your financial goals and circumstances.By understanding the factors impacting your ability to secure financing for a multi-family property and exploring alternative options, you can work towards achieving your real estate investment goals.

A great benefit you have in your own scenario, that we also preach at FlipSystem, is the ability to utilize multiple exit strategies.

However, it's essential to assess your risk tolerance and determine how much of your capital you're willing to invest in your first property.Consider Your Timeline: Since you mentioned not having a 2-year work history, it's important to understand how this might impact your ability to qualify for financing.

In addition, you need to know the current Legal Rents in the records of HCR (DHCR) for each apartment as they will be rents that you will most likely be stuck with and you will not have the ability to increase rents to cover Rehab or your investment.

I have discovered in the past few years the most valuable skill is the ability to find a deal.

- How can I use my real estate license as an advantage to the best of my ability?

The third-floor bonus room presents an excellent opportunity for a private office or playroom, adding versatility to this already remarkable home. - New roof- Gutter guards- New floors- New cabinets- Granite countertops- New stainless steel appliances- New tile in bathrooms- New light fixtures- New carpet in bedrooms- Fresh paint- Custom accent wall- Parking pad- New windows- New exterior paint- Updated light fixtures- Fans in the bedroom- First floor primary bedroom- First floor washer/dryer hook ups- Wrap around porch- Ample off street parking- Bonus room on 3rd floor What made you interested in investing in this type of deal?