Let us discuss how to finance properties if you don't have a W-2 job, what are you all doing in this high-interest rate environment, what are the benefits of single family housing verses multi-family, vs self-storage. 

I think i need 7 million to close on this property but I need gather financing for the closing and down payment. 

I love the world of finance and investing, have always had good returns percentage wise, but nothing life changing as I have never had the free capitol to go deep into any investment.

At the end of the day, it's still technically a Single Family Home with an extra unit to help offset expenses, but not a "true" investment property or legal duplex.Does anyone have any ideas on creative ways to finance building this (besides Refi or HELOC)?

For a $300,000 property, this could be $6,000 to $15,000.Mortgage on Rental Property:Loan Amount: $240,000 (assuming 80% financed at 4% interest over 30 years).Monthly Payment: Approximately $1,145.Other Expenses:Property Taxes: Estimated at 1.5% of property value annually ($4,500).Insurance: Estimated at $1,500 annually.Maintenance: Estimated at 1% of property value annually ($3,000).Property Management Fees: Assuming 10% of monthly rental income ($2,400 annually if rent is $2,000 per month).Vacancy and Turnover Costs: Estimated at 5% of annual rental income ($1,200).Total Initial Investment and Annual Operating ExpensesInitial Investment:Total Borrowed from Equity: $150,000Down Payment for Rental Property: $60,000Closing Costs for Rental Property: $10,500 (average)Total Initial Cash Outlay: $70,500 (initial investment from equity) + $10,500 (closing costs)Annual Operating Expenses:Property Taxes: $4,500Insurance: $1,500Maintenance: $3,000Property Management Fees: $2,400Vacancy and Turnover Costs: $1,200Total Operating Expenses: $12,600 annuallyExpected ReturnRental Income:Assuming $2,000 per month, annual rental income = $24,000.Net Operating Income (NOI):Annual Rental Income: $24,000Minus Annual Operating Expenses: $12,600NOI: $11,400Debt Service:Mortgage Payment on Rental Property: $1,145 per month, $13,740 annually.Total Debt Service: $13,740 (rental property) + $8,592 (equity loan) = $22,332 annually.Net Cash Flow:NOI: $11,400Minus Debt Service: $22,332Net Cash Flow: -$10,932 annually (negative cash flow initially due to high debt service).Cash-on-Cash ReturnInitial Cash Investment: $70,500Net Cash Flow (first year): -$10,932Cash-on-Cash Return: Not applicable initially due to negative cash flow.Long-Term Appreciation and AdjustmentsProperty Appreciation:Assuming a 3% annual appreciation, the property value could increase by $9,000 annually.Rent Increases:Assuming a 2% annual rent increase, rental income will rise, improving cash flow over time.

If anyone has tips on finding good deals, financing options, or navigating the challenges of flipping and renting properties, I'd love to hear from you.Looking forward to connecting with all of you and building a supportive network as we grow and succeed together in this exciting industry!

Save up as much as you can while educating yourself on the type of property to buy, what location to buy, how to identify a good investment, how to finance an investment, etc.

However, these days I am focusing on single family residential home, where I buy below market and sell on owner finance!

To all my creative finance aficionados, I have a situation...I have a potential off-market deal in my hometown of Pittsburgh.

If you're financing residential rental property (anything 1-4 units), you're best served with a mortgage broker or non-bank lender.