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

It's a super affordable real estate market where you can still find deals that hit the 1% rule anywhere from $120-180k for a single family (or $200-250k for a multifamily) purchase price.

So pretty good equity position within a year plus cash flowing well based on a $325k purchase price.

Quote from @Holly Radice: I am looking into purchasing a 4 unit in Ohio as my first property.

I purchased my first property in April of 2024.

Hello,I am interested in purchasing a recently renovated $195K property as a 'secondary' home for the next 4 years to use as a future LTR.

Private Money Lenders are going to be hard for a primary residence as it is an investment and typically they want to see a return prior to two years - also, the house would need to be purchased at a discount which would limit your options on a primary residence - now if you are looking for something that needs some work that you are planning on fixing up, it would be a little more feasible.

@Aristotle KumpisWe do 10+ Flips/BRRRRs annually and fund with Hard Money and Private Money.Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule.Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.Of course, with private lenders, you must give up equity or a return on the debt.

Purchase price: $55,000 Cash invested: $440,000 Currently under construction and pre-leased for $6,195/month, this 7-bedroom, 5-bathroom student rental in Clemson, SC, was built using investor cash and designed for high-end student living.

Step 1: Ensure you can get financing (is it a cash purchase or will you need a loan).