They seem to know what they are doing for that pocket and has the track record to prove it.

However, they approach financial health from different angles.The 50% Rule is a quick estimate that suggests operating expenses (excluding mortgage principal and interest) will roughly equal 50% of the property's gross income.The DSCR is a more precise calculation (Net Operating Income / Total Debt Service) that determines if a property generates enough income to cover its debt obligations.Deal example:- Class C middle class neighborhood- 4bd / 2ba single family house- ARV: 190k- Purchase: 105k- Rehab: 35k- Market rent: $1,400-1,525- Section 8: $1,475- Property manager: 10%- Taxes: 125 month- Insurance $1250 yr- HOA: $55 month- purchased and rehabbed with all cash.

Rocket Mortgage is headquartered downtown as is Ally Financial.

One housing authority wouldn’t even entertain the request, while another was open to it because it was an affordable housing property, requiring just an application for the exemption.From my experience, dealing with government agencies, especially when trying to save money or get financial benefits, can be a slow process.

It’s a great way to add value to a property without putting a ton of money upfront, and it can set you up for financial success in the long run.Has anyone else done a similar renovation project or used a gift of equity in their deals?

I’ve put together 7 steps to help you decide, stay focused, and get that much closer to achieving your financial goals.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

By the time you are 35 you could be financially independent and wealthy.Too many Americans, particularly young Americans, want everything now.

Secondly, calendar and email functions/apps on computers and smartphones provide great records and a log.

New agents may struggle with periods of no income while waiting for deals to close.Solution: Budget wisely, build a financial cushion, and prepare for slow months.