Quote from @Kris Gardner: Sept 1st, 2024 I acquired a duplex in Ohio.

Purchase price: $28,000 Cash invested: $47,000 Sale price: $110,000 Contributors: Peter Vekselman Partner Driven, alongside our partner Billy Medlen, acquired a home on Raymond St, Richland, MO, for $28,000 on 02/20/2024.

@Matthew PosteraroIt comes down to how much capital do you have to allocate, and how many units you are looking to acquire with your capital.

Locally, I look forward to soon having my VA loan seasoned to refinance and fully rent out, and acquire another property. 

When the houses were just acquired it usually took me two to four weeks to get a tenant in them though I had some that were rented prior to make-ready and renovations being done, that's happened a couple of times.  

Renovation costs would need to be financed separately.Private Lending or Hard Money: Use a private or hard money loan to acquire and rehab the property, then refinance into a joint long-term loan.Seller Financing: Negotiate terms directly with the seller for a flexible financing arrangement.Final ThoughtsUsing an FHA 203(k) loan for your first property is a smart move, and with the right partnership agreement, you can still achieve your 50/50 goals.

Quote from @Rick Im: Quote from @Ashish Acharya: @Rick Im Inspection fees for unsuccessful deals and mileage for property viewings before acquiring your first rental CANNOT qualify as start-up expenses.

Quote from @Isadore Nelson: I’m considering acquiring an occupied foreclosure property—a two-family home in Brooklyn, NY—and I'm hoping to connect with anyone who has experience in this area?

Price points are low when acquiring real estate but that also comes with lower rental market values for your units so it pretty much evens itself out.With that, if you are going to buy in Reading I advise you strongly consider managing your own properties.

Borrowers can acquire a primary residence from up to 1-4 units for as low as 5% with conventional, as the regulation was approved last year of November 2023.