I'm just starting out as a note broker and I want to make my first deal.

Purchase price: $124,000 Cash invested: $10,000 Single Family - good condition home What made you interested in investing in this type of deal?

Hearing people say I have a credit line to pull money out incase i need it for a deal.

You'll find a ton of investors there looking for more contractors, property managers, other investors to do deals with, and more. 

Yes, it's possible to use a 1031 exchange to roll the proceeds from selling your first rental property into a BRRRR (Buy, Rehab, Rent, Refinance, Repeat) deal, but there are a few important things to consider.

Purchase price: $112,000 Cash invested: $25,000 Mid Term rental How did you find this deal and how did you negotiate it?

Most recently I am using Fidelity's full view product as they are the broker I primarily deal with.I have some historical spreadsheets on Google drive but they mostly just show monthly pay/bills rather than providing any comprehensive statement of our finances.

Hi Yu Jin,Dayton is a step up from Toledo but also comes with a step up in price.The numbers make sense in many Ohio cities.You make money when you buy and not when you sell.So look for off market (We do a lot of direct to seller), negotiate hard, buy with cash and buy quickly.Great deals don't last so you need to know the numbers very well in your target market.I've flipped hundreds of properties in Toledo since 2014 and am glad to say that I know the market like my back pocket.All I need is the address, scope of work and how much I can buy it for.Quick access to AREIS, the MLS to run comps and "ka ching".I know if it's a deal or not.Immerse yourself in the market and become a market expert on the numbers.Nothing comes easy mate and all good things take time.If you are looking to build a rental portfolio in Ohio you have to build a big one.Buying 1 or 2 properties and expecting a significant impact to your bottom line from a net-worth or cashflow standpoint isn't worth the risk IMO.In all sub $100,000 markets, it's important to build a large portfolio as there is a high likelihood that you will have repairs and vacancy on 1 or 2 properties at any given moment.Just my opinion and all the best.

Hey Sean - I actually have a deal in New Braunfels closing in a few weeks.

Our rockstar renovation lender does do deals in that area so I can share his information if you are interested.