Even better, I might be able to snag it well under market value since it's an estate sale that's been sitting on the market for nearly 200 days.Here’s the challenge: while I could afford to purchase the property under market value, I’d be stretching my budget thin to cover the mortgage during the period I’d be remodeling the basement to make it rentable.

I just purchased my first duplex (only SFHs in my portfolio so far) and it doesn't have the gas/water split.

Step 1: Get preapproved for an FHA loan for the purchase price you are looking for.Step 2: Connect with builders until you find a few that will finance the construction of your home. 

It's only dead if you are spending too much on your purchase.  

. $220,000 is definitely a lower purchase price amount and really limits you on what you can buy.

Hi Troy congrats on your purchase, which it seems you purchased at a forelcousre auction.

Thank you so much for taking the time to respond.Here’s where I’m at in my journey:I don’t plan to rush into purchasing my first property.

Purchase price: $75,000 Cash invested: $10,000 Sale price: $120,000 This is a 2 bedroom 1 bathroom single family detached house is South Georgia.

You can also do up to 85% LTV on a purchase. 

I have recently started writing down addresses of run down or abandoned properties that I would like to purchase, but I only have the owner's name.