My first venture was a fix-and-flip turned rental in Angel Fire, NM.I’m eager to dive deeper into real estate investing and am especially interested in adding more investment properties in the Santa Fe area.

How do you feel about a $700k purchase price with a non owner occupied 4plex DSCR loan 3yr prepayment penalty, 10yr interest only 30yr fixed after$560k loan amount (20% down)7.750 par rate with no costs. monthly payment $3,616.66Or pay $22,295 in closing costs and get a 6.375% Monthly payment of $2,975The monthly payment difference between the two is $641.66And when you take $22,295 in closing costs and divide it by $641.66 that will give you 34.5 months (2.89 yrs) to break even if my math is correctHow do you guys feel about taking a lil less than 3 years to break even on $22,295And the seller is giving me $15,500 in seller concessions thanks for the advice guys!!

hold some of that initial 100,000$ for reserves. if you spend it all and something goes wrong you wont have time to accumulate profit the first year to really afford to fix anything. then you'd be dependent on personal income or another loan to fix the issue if one arose. play it slow and safe at first while you figure out the game and take some initial hard knocks that are bound to come. 

We are all here to make a profit so why would you have a problem if they fixed the issue themselves and made a profit.

Define your investment strategy, such as buying and holding, house hacking, or fixing and flip.

We want to invest 20% and fix it a bit (the house is just 4 years old and just need some tlc.

Investment Info:Single-family residence fix & flip investment in Austin.

I thought about refinancing the primary residence to a fixed-rate mortgage to pay back the HELOC and paying down the HELOC early.

If you are, I recommend buying a small multifamily and house hack to reduce your largest living expense while building equity.I recommend talking to a lender (i can connect you with one) about the income fluctuation and see how much you can qualify.Your best bet is to get a owner occupied loan with 30 yr fixed rate.

My name is Meredith Young and I am currently a real estate agent in Athens GA, but it has always been my dream to build a fix and flip business!