Will another property come in better and may sell cheaper after you close?

Build a solid foundation before taking a step up - each and every step of the way.There’s a way to scale recklessly and there is a way to scale safely.When OPM is involved safe is way better than reckless.Despite a life long career in RE, I scaled as followsBought a few duplexes for my own accountBought a fourplex for my own accountBought 12 units as a JV with some friendsSyndicated 43 unitsSyndicated 30 unitsBought another 12 units as a JVSyndicated 281 unitsThis was over a 3 or 4 year period.and so forth - now I am GP in close to 1000 units with $125M AUM.Even with all that, my sweet spot is 30 to 50 unit properties - they work best for my partners and I and more importantly our investors. 

•Work with lenders that roll fees into closing costs(some hard money lenders do this).

We also have many unique buyer incentives where an investor can get up to a 10% price reduction to come into immediate equity, or get that 10% as a cash back at closing to reduce your down payment and increase your ROI, or buy rates down into the low 4s on 30yr loans to maximize cash flow.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

We just closed on our first investment property and we jumped right in with a quad plex.

I closed that property with less then 1% down of my own cash.

I was going to put down 5% (about $40,000) at closing.

3) Your $250k with 30% down => about $750k (you also need funds for closing costs, taxes, etc.)

These areas are experiencing significant development and population growth, driven by families and professionals seeking more affordable housing while staying close to the job hubs in Plano, Frisco, and even parts of North Dallas.