Sandra For transparency purposes, I believe you meant to say that you purchased a turnkey property from Memphis Investment Properties, not Memphis Invest. 

I am learning a lot about real estate and want to purchase a rental property in my area.

Purchase price: $115,000 Cash invested: $42,000 Sale price: $168,000 Unfortunately, we bought this property as a buy and hold property, and our research led us to believe that this neighborhood was up and coming not in a bad area of Jacksonville.

Hello Dana, For that purchase price in Brooklyn, NY, you could be looking at considerable unknown expenses at this point.If the property is occupied, you'll have to factor in attorney fees and holding costs while you wait to gain access to the property.Furthermore, you could be facing additional costs related to title issues: open permits, violations, liens, judgements, etc.

Purchase price: $110,000 Cash invested: $30,000 Hobby Farm On 10 acres2300 sq ft house with 8 out buildings - Large Barn, Animal/hog barn, Mid-size machine shed (2) 25' x 35' / 30' x 50', Large Machine shed 60' x 60', Grainery barn, Entertainment Barn, 3 car garage What made you interested in investing in this type of deal?

Purchase price: $330,000 Cash invested: $40,000 Hey everyone, I wanted to share a personal story about a property I purchased and renovated in Hudson County, NJ.

I purchased a single family to rent out the rooms and it sent my finical plan completely off course because I was not as ready as I previously thought.

Other insights to be gleaned from the stats: Cash purchases dominate more than ever, representing over 62% of purchases.

@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.

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment.