Also, make sure the property's condition matches what you're willing to take on, or that the numbers work for you.4. 

Hi Ahmed,You’re in the perfect spot to begin your real estate investing journey!

In a perfect world that’s how I would start since it would be a lot easier than buying a home but I’m sure there’s some things I’m overseeing.

While there's no strict requirement to match the original mortgage terms, reinvesting the full proceeds without financing or using leverage to enhance returns is key.If you don't reinvest the full amount, any shortfall ("boot") will be subject to capital gains tax, and depreciation recapture may apply.This post does not create a CPA-Client relationship.

Fixtures and HardwareScope of Work:Replace all interior and exterior lighting fixturesUpdate door handles, cabinet pulls, and faucets to match modern designInstall ceiling fans in bedroomsEstimated Cost: $8,0006.

“Perfect BRRRRs” are rare nowadays.

For example we pay our own income taxes, broker splits and all of our other expenses directly out of what we make including required E&O insurance, MLS dues, licensing fees, Board of Realtor dues, continuing education costs, marketing, advertising, office fees/rent, transaction coordinator/ assistant fees, health insurance, car insurance and maintenance, gas, tires, software, retirement fund, etc.We are not W2 employees with payroll taxes already taken out of our paychecks, company-paid health insurance and matching retirement account plus a guarantee of at least 40 hours paid work per week, sick pay, paid vacation… none of that.So if you’re thinking you’ll be able to pay an hourly wage typical of a W2 hourly employee like $50-85/hr… that’s definitely not going to work.

In real estate there is no perfect deal or perfect market.

Purchase price: $376,613 Moved to Orange Park, Florida, from Delaware three years ago, choosing this home as the perfect place to settle and grow.

At that time I'll attempt to structure a 10 year term unless I consider a shorter hold period in which I'll negotiate the lowest rate possible to fit a shorter term more closely matching my remaing hold timeline.