Purchase price: $540,000 Cash invested: $108,000 Sale price: $540,000 My client bought a condo in Lincoln park.

If somebody sues the buyer, I want seller and tenant both stuck with the words in the Tenant Estoppel Letter, and not able to testify to anything different.The exact wording of the Tenant Estoppel Letter should be negotiated between buyer and seller as part of the Purchase Agreement negotiations.

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.

Bought undervalued (market value of 265k); refinanced about 1 year later to contribute to next property purchase.

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

Evicting them, even after purchase, could be a lengthy and costly legal process.

You can purchase this with a low-money-down FHA loan. 

Purchasing a property for your child while they attend college can be a strategic investment and a great way to provide them with stable housing.

My goal is to purchase my first property between now and mid to late 2025.

From there, you can back into the needed purchase price to make the deal work.