ust got a new tenant from section 8, after months of searching, finally , we settled on these three sisters.

Apparently they handle all property repairs and maintenance independently and have maintained a perfect payment history, even throughout the pandemic.Lease Option Agreement:Effective Date: November 1, 2022Terms:Purchase Price: $165,000Non-Refundable Down Payment: $10,000Lease Term: 3 years (ends October 31, 2025)Final Payment: $158,000 balance due upon term completionMonthly Payment: $1,150 (no rent credits)I didn't see this to be a deal because if in a the best case scenario my $25000 would walk away with 2400 which is about a 9% ROI.

With nearly 250 homes branded under Hestia, I think I'm finally getting a little bit of traction with the big guys but there is still alot to be done. 

My older RE friend's son studied to be an RN at 28, finally moved out of the house and he is making $1000 a day in Naples, Florida at the Hospital. 

But you have to understand the seller is taking on a significant risk of having someone else run the property and not knowing if they will get the final payout.If you are getting typical rates, why would you not just buy the property outright with 20% down and obtain mortgage financing from a lender?

If there are any books, podcasts, or other resources that you’ve found invaluable, I’d love to hear your recommendations.And finally, if you could go back to when you were buying your first property, what’s the one piece of advice you wish someone had given you?

Essentially, you have to spend your own money and complete work on the property prior to reimbursing yourself out of the escrowed rehab budget.The draw process typically takes 5-7 days from initial request, to scheduling an inspection, and finally for the lender to wire those funds to you after your work is confirmed by the inspector.

This should be signed infront of an attorney.A basketball player had his soon to be wife finally sign the prenup on the day of the wedding....

Recently, I was debating whether to lock in the mortgage rate for a single-family home we're purchasing in December, especially with rates spiking recently, or wait until after the next Fed meeting and election to be finalized.

Finally, I highly recommend increasing your underwriting rehab estimate number by 15-20% as most renovations tend to go over budget.