A good condo board should be saving money for larger projects as they are known in advance (eg every 25 years you need a new roof). 

@Pranita Maldikar Unless the seller is a family member or personal friend, I'm not sure why you'd want to put that much money down on the property.

If you go hard money, you might be able to get a 70% LTV.

You can make a lot of money, but be warned, a large % of Section 8 tenants are complete savages.

Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money. 

Hard money then refi residential 30 yr How did you add value to the deal?

Purchase price: $130,000 Cash invested: $9,000 Sale price: $185,000 I did not have the knowledge then to keep the property and pull money out to complete renovations to another property we purchased a year after this one that required a complete overhaul.

Money was deposited into my account the day after checkout.

fee of $5,000 to which I responded, "with all the money out there seeking a place to be, why would I need Lendbase to shop for a loan for me?".

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.