Purchase price: $85,000 Cash invested: $65,000 Sale price: $200,000 Contributors: Peter Vekselman Partner Driven and Seth Choate acquired a property on Highway 64 in Lewisburg, TN, for $85,000 on 07/22/2024.

Acquiring in cash or with a fix and flip loan.

Also be open to knowing that you are acquiring a series of problems.You're in the solution business. 

- Go look carefully at the numbers and you'll see this.If you could acquire more rentals and they threw off $500 profit each/monthly, how many would you need to make a living?

Buying with an LLC is a great way to safeguard yourself and your property, highly recommended, however, if you’re purchasing through an LLC that was not formed specifically for the purposes of acquiring your investment property, ensure you own more than 50% as LLCs can get complicated with multiple equal shareholders.

As a senior baseball player looking to eventually play pro ball after this spring semester, I acquired a serious interest in doing real estate as another source of income.

Did you acquire this without seeing it?

It frees you up to focus on living your life and acquiring more property.

It would not surprise me if they were acquiring the paper and servicing rights to take an inside line on refi's for these customers if rates decline.Actually CFPB regs may NOT apply if the subject loans are investment or commercial property loans and not SFR owner occupied or consumer loans. 

My suggestion would be to manage it yourself for 1-2 years, then as you acquire more rental properties, you can start using a PM.