Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Since you know what you need to buy it at and an average rehab cost, I would say $50-70k for a cosmetic flip, set the ARV based on the sample you choose and doing comps and ask them if they would invest in a deal similar to this. 

Setting them up to do well.

Line of Credits (like HELOCS) allows access to a set amount of money up to a pre-determined limit and it is revolving.

I met with Wicked Smart today and was told they help you set up a lead sourcing system, help you structure creative financing - which is essentially lease option/purchase, subject to and owner financing....all strategies I am interested in learning more about.

In my area these are rare so they are difficult to set market rent, and I imagine get a lot of wear and tear with a lot of occupants living there. 

Regardless of having or not a license how do you make sure the first investment property sets you for success?

As for soft costs, you’re looking at a fair amount for a condo conversion-there are legal docs to have drawn up, reviews, surveys, recordings, setting up the HOA, reserve studies etc.

At the beginning of 2023, we see rates in the mid 3% range, reflecting in development starts slowing in 2023 and 2024 resulting in much lower net deliveries in 2025 and onward as rates continue to remain elevated and bank financing requirements remain tight.As you can see, this has put downward pressure on Vacancy rates, since the lower supply of oncoming units coupled with a continued expected population growth in the D.C.

However, if the market turns, it could add pressure and cause you to lose your primary residence.5.