Great questions - a lot of our borrowers will tap the equity using a refinance in order to purchase their next investment property.Feel free to give me a shout anytime, happy to help!

Purchase price: $160,000 Sale price: $170,000 Contributors: Peter Vekselman Partner Driven and Jamari Sprueil secured this Dover Ct property in Riverdale, GA, for $160,000 and successfully sold it for $170,000 on the same day.

Narrow focus - I know the zip codes I wanted to purchase well.

Quote from @Dylan Webb: Hello, here's my situation:My wife and I own several properties separately.2 of the single family homes combined we have conservatively $150,000 in equity ($90,000, $60,000) I want to use one of these as collateral for a small loan of $30,000 to put down on a high cash flowing property OR have a lender finance the whole venture at a purchase price of $160,000.

What does everyone think is the most profitable area to purchase in?

Consult with an attorney to provide a purchase and sale agreement in your respective state with an assignment exhibit included. 

How long are you expecting to hold and do you have the money to purchase in San Diego?

We have some capital and are looking to possibly purchase a small hotel.

Are you wanting to purchase in the same area of Chicago?

They have larger offices with more agents to network and learn from, training meetings, etc.